Globe Telecom, Inc. signed a 10-year P8 billion term loan facility with BDO Unibank, Inc. The loan shall be used to finance the company’s capital expenditures and general corporate requirements.
Globe’s capital expenditure guidance for 2017 is US$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 approximately P36.7 billion or US$772 million in capital expenditures as of end-December of 2016, wherein 65% were spent for data related requirements.
For 2016, Globe generated all-time high consolidated service revenues of close to P120.0 billion, eclipsing the previous record of P113.7 billion in 2015 by 6%. The sustained revenue momentum, despite the competitive intensity in the market during the second half of 2016, was driven by the solid growth in data-related products across all segments, and robust subscriber growth for both mobile and broadband. This was likewise supported by the sustained execution excellence for the various product launches during the year, backed by its improved network performance, as Globe moves forward with its capacity and coverage enhancement initiatives, intended to elevate the state of internet in the country.