GLOBE TELECOM, Inc. on Tuesday said it has secured a P5-billion loan from China Banking Corp.
In a disclosure to the stock exchange, Globe said it will use the loan proceeds to partially fund its capital expenditures and general corporate requirements.
Globe President Ernest L. Cu had previously told reporters while the company has not finalized its 2019 capex yet, the figure is likely to remain close to its budget this year, which was at $950 million (about P49.8 billion).
For the first nine months of 2018, Globe has spent P32.5 billion to expand its network, in response to the growing subscriber base and increasing demand for data.
