GLOBE Telecom, Inc. on Thursday said it had obtained a P3-billion term loan facility from sister firm Bank of the Philippine Islands (BPI) to finance capital expenditures (capex), refinance existing debt, and address general corporate requirements.
GLOBE Telecom, Inc. on Thursday said it had obtained a P3-billion term loan facility from sister firm Bank of the Philippine Islands to finance capital expenditures , refinance existing debt, and address general corporate requirements.In August, the Ayala-led telco had also secured term loan facilities from China Banking Corp. , Land Bank of the Philippines , and Metropolitan Bank & Trust Co. .
'These initiatives underscore Globe's strategic focus on enhancing capacity utilization and maximizing network efficiency through prudent spending,' the telco said.'These measures not only support Globe's objective of achieving a positive free cash flow position but also reinforce the company's mission to ensure equitable connectivity and empower communities across the Philippines to thrive in the digital economy,' it added.
Secures P3-B Loan From Sister Firm
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