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Globe secures P10-billion loan from Metrobank

Ayala-backed Globe Telecom signed a P10-billion term loan facility with Metropolitan Bank & Trust Company (Metrobank).

The loan will be used to fund its capital expenditures, Globe told the Philippine Stock Exchange on Wednesday, March 3.

Globe plans to spend P70 billion for its aggressive cell site builds, tower upgrades, and fiberization in 2021.

The telco has so far committed to invest its resources in its 4G and 5G rollout in the short term.

In 2020, Globe spent P60.3 billion in capex, which represents 41% of its gross service revenues and 82% of earnings before interest, taxes, depreciation, and amortization or EBITDA. – Rappler.com

Aika Rey

Aika Rey is a business reporter for Rappler. She covered the Senate of the Philippines before fully diving into numbers and companies. Got tips? Find her on Twitter at @reyaika or shoot her an email at aika.rey@rappler.com.

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