Globe Telecom, Inc. singed a 10-year P8-billion term loan facility with BDO Unibank INC. to fund its target P37.5 billion ($750 million) captial expenditure for the year along with its general corporate requirements.
The bulk of the telco’s 2017 capex will be invested in data-related projects, including the deployment of Long Term Evolution (LTE) mobile and LTE @ Home, increased network capacities and coverage, modernization of fixed line data infrastructure for corporates and requirements for transmission facilities.
Last year, the company spent almost the same amount, P26.7 billion (US$772 million) in capital expenditures of which 65% were spend for data related requirements.
For 2016, Globe generated all-time high consolidated service revenies of close to P120.0 billion, eclipsing the previous record of P113,7 billion in 2015 by 6%
Despite the competitive intensity in the market during the second half of last year, the solid growth in Globe’s data related products across all segments plus the robust subscriber growth for both mobile and broadband enabled the telco to sustain its revenue momentum.
Source: Manila Bulletin
