In a stock exchange filing on Thursday, Globe said it signed term loan facilities with China Banking Corp., Land Bank of the Philippines, and Metropolitan Bank & Trust Co. for P10 billion, P5 billion, and P7 billion, respectively.
In the first half of 2024, Globe reduced its capex by 25 percent to P28.3 billion, focusing on optimizing spending and aiming for positive cash flow by 2025. About 91 percent of this investment went into data infrastructure to ensure reliable digital services for customers.
“Globe continues to spearhead efforts to bridge the digital divide by bringing connectivity to remote areas across the country, with its network now reaching over 500 geographically isolated and disadvantaged areas,” the telco giant said.
