Globe inks ¥20B loan deal with Mizuho Bank

Ayala-led Globe Telecom Inc. on Wednesday announced it has signed a loan deal with Japanese lender Mizuho Bank Ltd.

In a disclosure to the Philippine Stock Exchange, Globe said the term loan, amounting to ¥20 billion, will be used to partially finance the telco’s capital expenditures (capex), debt refinancing, and other general corporate requirements.

Globe said its invested approximately P31.4 billion in capex in the first nine months of 2025, down 23% from P41.0 billion in the same period last year. 

“This reduction reflects the company’s focus on strategic capital management while continuing to channel resources toward essential network improvements, in line with its full-year capex guidance of below $1 billion,” the telco said.

Globe said it cash capex-to-revenue ratio improved to more sustainable levels at 26% from 33%, while the capex-to-EBITDA (earnings before interest, taxes, depreciation, and amortization) ratio narrowed to 49% from 63%, “demonstrating increased capital efficiency and investment flexibility.”

“These improvements pave the way for targeted network initiatives for the remainder of the year and strengthen Globe’s positive free cash flow position,” it said.

Globe said approximately 89% of capex was allocated to data-related projects, reaffirming its commitment to advancing digital capacity and expanding connectivity nationwide.

“By pursuing focused investments and innovation shaped around customer demand, Globe continues to empower more Filipinos to thrive in a digitally connected economy,” the telco said. —VAL, GMA Integrated News