Globe signs P10-B loan deal with Landbank

Globe Telecom Inc. has signed a P10-billion term loan agreement with state-run Land Bank of the Philippines.

In a disclosure to the Philippine Stock Exchange on Thursday, Globe said the loan will finance the telco's capital expenditures (capex), debt refinancing, and/or general corporate funding requirements.

In the first three months of the year, the Ayala-led telco said it spent P12.7 billion in capex, up 51% year-on-year.

Globe said its capex accounted for 30% of service revenues during the period, which supported the telco's objective of strengthening its network while sustaining a healthy free cash flow profile and prudent financial position.

Moreover, it said that approximately 91% of capex was directed towards data-related initiatives, underscoring the telco's continued focus on expanding digital capacity and delivering best-in-class customer experience across the country.

Globe said it continues to pursue a disciplined capital investment strategy, maintaining its full-year 2026 cash capex guidance of below $1 billion (roughly about P61.6 billion), while investing in critical network infrastructure to support the country's growing digital adoption and evolving customer needs.

"By investing strategically in resilient and future-ready digital infrastructure, Globe remains committed to enhancing the quality of its network to empower more Filipino homes and businesses with consistent, reliable connectivity and robust digital solutions," the telco said. — VDV, GMA News