Globe Telecom Inc. has secured a P5 billion loan from BDO Unibank Inc., the country’s largest lender, to partially cover its capital expenditures and debt repayments, as reported by Philstar Biz.
The telecommunications company said the proceeds will be used to support its ongoing network expansion and upgrade initiatives, as well as to manage its existing debt obligations. This borrowing adds to Globe’s previous financing activities as it continues to invest in 5G and fiber broadband infrastructure.
The loan comes amid a competitive telecom landscape in the Philippines, where major players are ramping up spending to improve service quality and coverage. Globe has been focusing on digital transformation and expanding its data capabilities to meet growing demand.