Globe Inks Loan w/ Land Bank of the Philippines, BDO Unibank Due to This
GLOBE – The major telecommunication provider company signed a multi-billion deal with BDO Unibank and the Land Bank of the Philippines.
Loans are not only beneficial for small businesses that need some assistance for the working capital. Many of the business giants in the field attained great success following a huge loan to a bank or a lending company that financed its successful project. Loans are also the turn-tos of many businesses in times of financial struggle brought about by uncontrolled factors like a national crisis.
Most huge companies really sought loans to push through big steps to expand the business. Like what many successful businessmen have accepted, the business field is really full of risks. Meanwhile, most huge companies and seasoned businessmen have backup plans for every move.
Recently, Globe Telecom signed a multi-billion loan deal with two (2) of the biggest banks in the Philippines – BDO Unibank, a private banking company, and the government bank Land Bank of the Philippines.
Based on an article on ABS-CBN News, Globe signed a P15-billion loan from BDO Unibank and the Land Bank of the Philippines. It will borrow P10 billion from BDO and P5 billion from the state-run bank.
According to the Ayala-led telecommunication provider, the company will use the loan proceeds to finance the capital expenditures of the firm, debt refinancing, and general corporate requirements. The telco company reported a total of P65.4 billion investment in capital expenditures as of September 2021. It is more than the investment that the company made last year which was at P60.3 billion.
Based on the report, Globe further said that not less than 84% of the capex was for the building of the data networks to boost the internet and mobile experiences of Filipinos. The telco company has built 1,080 new cell sites and upgraded 12,900 sites. Part of those cell sites upgraded are 4G LTE and 5G. The company also installed 1 million fiber-to-the-homes (FTTH) lines.
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