Globe Secures Additional P10 Billion Loan from Landbank

MANILA, Philippines — Globe Telecom Inc. has secured another loan facility, this time amounting to P10 billion from the Land Bank of the Philippines, a state-owned bank. This marks the telco's second major borrowing in less than a month. In a disclosure to the Philippine Stock Exchange, Globe announced its entry into a P10-billion term loan facility with Land Bank of the Philippines. The company stated that the loan shall be used to "partially finance the company’s capital expenditures, debt refinancing and general corporate funding requirements." This borrowing follows a P5-billion loan obtained from BDO Unibank Inc. in June. Globe has indicated that these loans are primarily to fund network expansion, supporting the digital shift among Filipinos. The telco has set a capital expenditure (capex) guidance of under $1 billion for 2026, a strategy aimed at trimming spending while sustaining positive cash flow, which represents about 30 percent of its revenue. As of March, Globe had already spent P12.7 billion in capex, a 50 percent increase from the previous year. A significant 91 percent of this investment was directed towards data infrastructure to enhance national coverage and network redundancy. Meanwhile, Globe's e-wallet service, GCash, successfully raised over P8 million in donations for victims of the Mindanao earthquake. A donation drive held between June 8 and 30 saw contributions from over 10,000 Filipinos, with the funds allocated for relief efforts in Mindanao. GCash also welcomed 14 new non-government organizations to its donation platform, GBayanihan, including prominent groups such as ABS-CBN Foundation, Angat Buhay, Ayala Foundation, GMA Kapuso Foundation, Philippine Disaster Resilience Foundation, and the Philippine Red Cross. Winsley Bangit, group head of new business at GCash's parent Mynt Inc., highlighted GBayanihan's role as a trusted channel for relief projects, enabling secure and direct donations to trusted organizations.