Globe inks P10 billion term loan with Metrobank

MANILA, Philippines — Globe Telecom Inc. has signed a P10-billion term loan facility with Metropolitan Bank & Trust Co. to fund its capital expenditures.

Globe expects to spend a record high P70 billion this year to support the continuous modernization of its network to make 5G as well as fiber technology available to customers in more areas in the country.

The Ayala-led telco intends to spend P56 billion or about 80 percent of its capex this year for data network builds as part of ongoing efforts to deliver first-world internet connectivity.

Last year, Globe spent a record level of P60.3 billion for capex, which represented 41 percent of gross service revenues and 82 percent of EBITDA.

Majority or about 86 percent of the company’s capex last year went to data-related requirements to meet the growing data demands of users nationwide.

In a separate development, Globe said it continues to expand its 5G network globally with the launch of its outbound 5G roaming service in the United Arab Emirates through a partnership with Du Telecom.

With this development, Filipinos abroad would be able to stay connected and enjoy the convenience and quality that 5G connectivity brings.

Globe said inbound roaming services, which allow subscribers of other operators to access the company’s 5G network and services, are also set to commence this month.

Last month, Globe’s 5G roaming service also made its debut in Thailand in collaboration with Thailand’s AIS. The 5G coverage in Thailand extends to all its 77 provinces.

“We understand that traveling is challenging at the moment given the health crisis, but we recognize that there are Filipinos who still need to leave the safety of their homes to fulfill responsibilities overseas. We want to assure them of instant and seamless connectivity in countries with Globe’s 5G roaming service,” Globe consumer mobile business head KD Dizon said.

Globe is working towards rolling out its 5G roaming services in more key markets in Asia, Middle East, North America and Europe with the help of its roaming partners.