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Globe secures P15-B loan from 2 banks.
Globe Telecom, one of the leading telecommunications companies in the Philippines, has secured a P15-billion loan from two of the country’s top banks, BDO Unibank and Metropolitan Bank and Trust Company (Metrobank).
The loan agreement was signed on Monday, June 14, 2021, and will be used to finance Globe’s capital expenditures and general corporate requirements.
According to Globe’s Chief Finance Officer Rizza Maniego-Eala, the loan will help the company “maintain its network superiority and support its aggressive expansion plans.”
Globe has been investing heavily in its network infrastructure in recent years to improve its services and keep up with the growing demand for data and connectivity. The company has also been expanding its reach in the country, particularly in underserved areas, to provide more Filipinos with access to reliable and affordable internet services.
The loan from BDO and Metrobank will provide Globe with the financial resources it needs to continue its network expansion and upgrade initiatives, as well as support its other business operations.
“We are grateful for the continued support of our banking partners as we pursue our mission of providing superior customer experience through our network and services,” Maniego-Eala said.
The loan agreement with BDO and Metrobank is just the latest in a series of financing deals that Globe has secured in recent years. In 2020, the company raised P16 billion through a bond offering, which it also used to fund its capital expenditures and other corporate requirements.
Despite the challenges posed by the COVID-19 pandemic, Globe has remained committed to its goal of providing Filipinos with world-class telecommunications services. With the support of its banking partners, the company is well-positioned to continue its growth and expansion in the years to come.