Globe Telecom, Inc. mentioned on Friday that it had inked mortgage amenities with BDO Unibank, Inc. and Land Financial institution of the Philippines for P10 billion and P5 billion, respectively, to finance its capital expenditures and repay current money owed.
The loans will even be used for the corporate’s basic company necessities, Globe mentioned in a disclosure to the inventory trade.
“Globe invested a document stage capital expenditure of P65.4 billion as of end-September 2021, surpassing final 12 months’s full-year funding of P60.3 billion,” the corporate mentioned.
Globe is constructing and upgrading cell websites throughout the nation as a part of its aim to enhance buyer expertise and broaden service protection.
“The corporate sustained its community construct momentum with 1,080 new cell websites, upgrading no less than 12,900 websites together with each 4G LTE and 5G, and putting in over a million fiber-to-the-home traces, which already surpassed this 12 months’s full-year goal,” it famous.
As of September this 12 months, the telco’s attributable web revenue elevated 12.8% to P17.90 billion from P15.87 billion in the identical interval in 2020.
Whole revenues for the January-to-September interval grew 4.1% to P113.55 billion from P109.10 billion within the earlier 12 months.
Globe Telecom shares closed 3.14% greater at P3,280 apiece on Friday. — Arjay L. Balinbin