GLOBE Telecom, Inc. has secured a P10-billion term loan from the Land Bank of the Philippines (LANDBANK) to help finance capital expenditures (capex), refinance debt, and support general corporate funding requirements as the telecommunications company continues investing in its network.
In a regulatory filing on Thursday, Globe said proceeds from the facility will be used to partially finance capex, debt refinancing, and general corporate funding requirements.
The company said it maintains its full-year 2026 cash capex guidance of below $1 billion (about P61 billion), reflecting what it described as a disciplined capital investment strategy while continuing to invest in network infrastructure to support rising digital demand.
For the first quarter, Globe incurred P12.7 billion in capex, up 51% from a year earlier. Capex accounted for 30% of service revenues during the period, while about 91% of capex was allocated to data-related initiatives.
“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 company said.
Globe’s attributable net income fell 20% to P5.55 billion in the first quarter from P6.98 billion a year earlier, as higher financing costs and the absence of one-off gains booked in 2025 offset revenue and core earnings growth driven by strong data demand.
For 2026, the company expects low- to mid-single-digit growth, supported by anticipated growth in service revenues.
The LANDBANK facility follows Globe’s P5-billion term loan from BDO Unibank, Inc., announced in June, which was also earmarked for capex and debt refinancing.
Shares in Globe rose P20, or 1.1%, to close at P1,824 each on Thursday. — Ashley Erika O. Jose
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