Philippines telecommunications provider Globe Telecom has secured a PHP 15 billion term loan facility from Metropolitan Bank and Trust Company (Metrobank). In an exchange filing last week, Globe Telecom noted that the loan proceeds will be used to finance the company's capital expenditures (CAPEX), debt refinancing, and/or general corporate requirements.
Also Read: Globe Philippines Deploys 542 New Cell Sites in 1H 2023
Focus on Data Networks
Globe said it has invested PHP 37.7 billion in capex as of the first half of 2023, with 90 percent of the CAPEX spending allocated to data network builds. This is consistent with the company's efforts to bring free cash flow back to more sustainable levels and meet the consumer's escalating demand for data. Globe said this CAPEX is 25 percent lower than the similar period of 2022.
Network Infrastructure
According to the statement, Globe said that as of June 2023, it has built 542 new cell sites, upgraded 5,087 mobile sites to LTE to meet the increasing data demands of customers, and deployed around 148,000 fibre-to-the-home (FTTH) lines. To maximise the utilisation of its existing fibre inventory, Globe has significantly slowed down its FTTH rollout compared to last year.
5G Advancements
As the first telco to launch 5G in the Philippines, Globe said it continues to deploy 5G wireless technology nationwide. The company has enabled 356 new 5G sites across the Philippines, increasing its 5G outdoor coverage to 97.44 percent of the National Capital Region and 91 percent of key cities in Visayas and Mindanao.
Also Read: Globe Philippines Deploys 356 New 5G Sites, Expands 5G Roaming, Logs 5.2 Million 5G devices
Enhancing Consumer Experience
The term loan facility from Metrobank will help Globe to continue investing in its network infrastructure and expand its 5G coverage. This will benefit consumers by providing them with faster and more reliable internet access.
Globe's investment in data network infrastructure will help to ensure that the company is well-positioned to meet the growing demand for data services in the Philippines.
