GLOBE Telecom, Inc. signed term loan facilities with Bank of the Philippine Islands, China Banking Corporation and Robinsons Bank Corporation for P3 Billion, P5 Billion and P4 Billion, respectively.

The loans shall be used to finance the Company’s capital expenditures (capex), debt refinancing and/or general corporate requirements.

As of the first nine months of the year, Globe invested P54 Billion in capex, lower by 27% than the similar period of 2022.

Globe said this effort to reduce its capex spending is in line with Globe’s focus on capital efficiency and optimization.

Bulk of this amount or 91% was allocated for the data requirements to ensure that customers will be able to access the best digital solutions and connectivity anytime.

Globe’s nonstop network expansion and enhancement is also in line with its commitment to the United Nations Sustainable Development Goals, particularly SDG No. 9, which underscores innovation and infrastructure as key drivers of economic growth.