Globe signs P8 billion loan with BDO

GLOBE Telecom Inc. signed a 10-year P8-billion term loan facility with BDO Unibank Inc. to finance the company’s capital expenditures and general corporate requirements.

Globe’s capital expenditure guidance for 2017 is $750 million, of which majority will be invested in data-related projects, including the deployment of LTE mobile and LTE @Home, increased network capacities and coverage, modernization of fixed line data infrastructure for corporates and requirements for transmission facilities.

The company spent about P36.7 billion or $772 million in capital expenditures as of December 2016, wherein 65 percent was spent for data related requirements. For 2016, Globe generated all-time high consolidated service revenues of close to P120.0 billion. PR