Philippine operator Globe Telecom has secured a PHP7bn (US$158m) seven-year loan with Philippine National Bank to finance capital expenditure in 2015.
The telco said roughly 75% of its US$650m capex this year covers data-related projects including LTE…
Philippine operator Globe Telecom has secured a PHP7bn (US$158m) seven-year loan with Philippine National Bank to finance capital expenditure in 2015.
The telco said roughly 75% of its US$650m capex this year covers data-related projects including LTE and 3G expansion, as demand for connectivity in the country continues to grow.
It comes soon after the group revealed 2014 consolidated service revenue reached a new high of PHP99bn (US$2.23bn), compared with PHP90.5bn (US$2.04bn) in 2013.
“The company’s core net profit also reached a record level of PHP14.5bn [US$327m], which was 25% higher than the previous year, driven by the solid performance of its business segments amid sustained demand for data connectivity across the mobile, broadband and fixed line data businesses,” Globe said.
