Globe Telecom, Inc., the Ayala-led telecommunications firm, has obtained a P10-billion term loan from the Land Bank of the Philippines to fund its capital spending program, refinance existing obligations, and cover general corporate needs. The company made the announcement in an official disclosure to the Philippine Stock Exchange, noting that the funds will support ongoing network expansion while maintaining sound financial management practices. This latest financing follows a separate P5-billion term loan Globe secured from BDO Unibank just last month, which was also set aside for capital projects and debt refinancing.
Globe has reaffirmed its full-year 2026 cash capital expenditure target, keeping it below $1 billion as it works to balance heavy infrastructure investments with steady cash flow generation. In the first three months of 2026 alone, the company spent P12.7 billion on capital projects, a 51 percent rise from the same period in 2025, with these outlays making up 30 percent of total service revenues for the quarter. Around 91 percent of this first-quarter budget went to data-related initiatives, underscoring the company’s priority to expand digital infrastructure and upgrade services across the country. Globe stated its investment strategy remains focused on building robust, forward-looking systems to match rising digital adoption in the Philippines and deliver more reliable connectivity for both homes and enterprises.
Alongside its funding updates, Globe released its latest financial results for the first quarter of 2026. The firm posted a net income of P5.6 billion, down 20 percent from the P7 billion recorded a year earlier, though core net income grew 9 percent year-on-year to P4.9 billion. Consolidated gross service revenues reached P42 billion for the quarter, representing a 5 percent year-on-year increase, even as figures fell slightly compared to the record-high fourth quarter of 2025, which typically sees stronger seasonal activity.
