Globe Telecom secures ₱10 billion Landbank loan to fund network expansion and refinancing
AI Market Summary
Globe Telecom secured a ₱10bn Landbank loan to partly fund capex, refinance debt, and support general corporate needs while keeping full-year capex below $1bn. Q1 spending rose sharply and was concentrated in data/5G upgrades, with coverage expanding across key Philippine regions. Revenue grew on mobile data demand, but net income fell 20%, signaling margin pressure despite network investment.
Impact level
● Low
Affected assets
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● Neutral
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Globe Telecom has secured a ₱10 billion loan from state-run Land Bank of the Philippines (Landbank) to support its 5G network expansion, debt refinancing and general corporate purposes. The company kept its full-year capital expenditure guidance at below $1 billion. First-quarter capex rose more than 50% year on year to ₱12.7 billion, with over 91% allocated to data-related upgrades. Net income fell 20% to ₱5.55 billion even as revenue increased 4% to ₱45.71 billion, led by mobile data services.
