AYALA-LED Globe Telecom, Inc. said it has secured a total of P22 billion in loan agreements from China Banking Corp. (Chinabank), Land Bank of the Philippines (LANDBANK), and Metropolitan Bank & Trust Co. (Metrobank).
“The loans (will) be used to finance the company’s capital expenditures (capex), debt refinancing, and/or general corporate requirements,” Globe said in a regulatory filing on Thursday.
The company signed term loan facilities with Chinabank, LANDBANK, and Metrobank for P10 billion, P5 billion, and P7 billion, respectively.
For the first semester, Globe allocated P28.3 billion for capex, primarily for data infrastructure to support the company’s strategy of enhancing network coverage.
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