An Ayala-led telecom giant was able to secure a P5-billion term loan facility as the firm continues to ramp up spending for network expansion and debt refinancing.
Globe Telecom, Inc. said the fresh financing will support its capital expenditure program and broader efforts to strengthen financial flexibility amid sustained demand for digital services nationwide.
For 2026, the telco has set its cash capital expenditure guidance at below US$1 billion, signaling continued but disciplined investment in upgrading its network infrastructure.
In the first quarter alone, Globe spent P12.7 billion in capital expenditures, a 51-percent increase year-on-year, driven by ongoing expansion projects and capacity upgrades aimed at improving service quality.
During the period, capital spending accounted for 30 percent of total service revenues, a level Globe said supports its improving free cash flow position while maintaining balance sheet stability.
The company also reported that around 91 percent of its capex was allocated to data-related investments, underscoring its focus on boosting digital capacity and strengthening nationwide connectivity.
Globe said these investments are designed to enhance network reliability and support growing demand from households and businesses relying on digital services.
In its latest financial results, the company posted a net income of P5.6 billion from January to March 2026, down 20 percent from P7 billion in the same period last year.
However, core net income rose nine percent year-on-year to P4.9 billion, even as it slipped nine percent quarter-on-quarter.
Total consolidated gross service revenues reached P42 billion in the first quarter, up five percent year-on-year but slightly lower than the previous quarter, which the company attributed to seasonal patterns and a stronger prior-period performance.