Globe inks PHP7bn loan deal with LandBank to finance CAPEX

30 Nov 2017

GMA News reports that Globe Telecom of the Philippines has inked a deal with LandBank for a seven-year PHP7 billion (USD139.4 million) loan to finance its capital expenditure programme, with a primary focus on improving broadband connectivity and supporting its mobile business. Earlier this year, Ayala-led Globe raised its annual CAPEX budget from USD759 million to USD850 million, with corporate communications officer Yoly Crisanto confirming: ‘This new loan will support our strategy to improve the quality and expand access to home broadband as well as support our mobile business’. As at 30 September 2017 Globe had already spent USD731 million of its full-year allocation, of which 84% was committed to data-related network and coverage projects.

Philippines, Globe Telecom (incl. Innove)