Globe secures P10 billion loan from Landbank

MANILA, Philippines — Globe Telecom Inc. has obtained another loan, its second in barely a month, this time amounting to P10 billion from a state-owned bank.

In a disclosure to the Philippine Stock Exchange, Globe said it has entered into a P10-billion term loan facility with Land Bank of the Philippines.

“The loan shall be used to partially finance the company’s capital expenditures, debt refinancing and general corporate funding requirements,” Globe said.

The borrowing comes less than a month after the telco borrowed P5 billion from BDO Unibank Inc. in June. Globe said the loans would mainly finance network expansion to support the digital shift among Filipinos.

For 2026, Globe has crafted a capex guidance of under $1 billion in line with its strategy to trim spending. At this rate, the telco is spending 30 percent of its revenue, a level that allows it to sustain positive cash flow.

As of March, Globe has spent P12.7 billion in capex, up by half from a year ago, with 91 percent invested in data infrastructure to expand national coverage and improve network redundancy.

Meanwhile, Globe’s e-wallet GCash has raised more than P8 million in donations for the victims of the Mindanao earthquake.

The e-wallet mounted a donation drive for the earthquake victims, drawing donations from over 10,000 Filipinos between June 8 and 30, with the funds going to relief efforts for Mindanao.

GCash also welcomed 14 new non-government organizations on its donation platform GBayanihan. These groups include ABS-CBN Foundation, Angat Buhay, Ayala Foundation, GMA Kapuso Foundation, Philippine Disaster Resilience Foundation and Philippine Red Cross.

Winsley Bangit, group head of new business at GCash’s parent Mynt Inc., said GBayanihan has become a trusted channel for relief projects. The platform enables Filipinos to donate directly to their trusted organizations through a secure process.