Globe Telecom, a prominent name in the Philippines’ telecommunications sector, has taken a bold leap towards fortifying its network infrastructure with the acquisition of a PHP 15 billion term loan facility from Metropolitan Bank and Trust Company (Metrobank). This substantial infusion of funds marks a pivotal step in the telco’s network expansion journey.
Empowering Network Expansion
The PHP 15 billion term loan facility, a recent development in Globe Telecom’s financial strategy, is set to play a multifaceted role in the company’s growth. A substantial chunk of these funds is earmarked for capital expenditures (CAPEX), bolstering the backbone of Globe’s network infrastructure. Additionally, the loan will serve the purpose of debt refinancing, a key financial move to optimize debt obligations. Lastly, a portion of this financial injection is directed towards fulfilling general corporate requirements, reinforcing the holistic growth agenda of Globe Telecom.
Data Networks Take Center Stage
Globe Telecom’s strategic focus on elevating data network capabilities is evident in its financial moves. The company has invested a staggering PHP 37.7 billion in CAPEX up to the first half of 2023. What’s noteworthy is that a resounding 90 percent of this CAPEX allocation is dedicated to data network expansion. This calculated investment approach aligns with Globe’s unwavering commitment to satisfying the surging consumer demand for data services and ensuring sustainable levels of free cash flow.
Accelerating Growth and Upgrades
By June 2023, Globe Telecom had already forged ahead by constructing 542 brand-new cell sites, upgrading a significant 5,087 mobile sites to LTE, and deploying approximately 148,000 fiber-to-the-home (FTTH) lines. This comprehensive network expansion strategy is tailored to meet the ever-growing data requirements of consumers in the Philippines.
5G Revolution Continues
As the pioneer in launching 5G technology in the Philippines, Globe Telecom is taking the lead in advancing 5G wireless technology across the nation. The telco has seamlessly integrated 356 new 5G sites nationwide, further enhancing its 5G outdoor coverage. This investment expands access to 5G technology, offering consumers faster and more reliable internet connectivity.
A Bright Future for Consumers
The PHP 15 billion loan facility provided by Metrobank will be pivotal in fortifying Globe Telecom’s network infrastructure and pushing the envelope of 5G coverage expansion. This bold move will undoubtedly translate to a better experience for consumers, providing them with quicker and more dependable internet access.
Meeting the Data Demand
Globe Telecom’s substantial investment in data network infrastructure is a testament to its unwavering commitment to meeting the burgeoning demand for data services in the Philippines. By positioning itself as an industry leader in data connectivity, the company is well-prepared to deliver top-notch services to its consumers.
