Globe Telecom secures PHP3 billion loan for expansion and refinancing amid financial growth.

Globe Telecom Inc. secured a PHP3 billion loan from Bank of the Philippine Islands for capital expenditures, debt refinancing, and general needs. Despite reducing capital spending by 24% to PHP41 billion from January to September 2024, Globe has expanded its network with 684 new cell sites, 2,723 LTE upgrades, and 55,076 fiber-to-the-home lines. The company aims to achieve positive cash flow by 2025 and reported a 6.7% increase in net income for the first nine months of 2024.

November 28, 2024
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