GLOBE Telecom, Inc. has signed a term loan facility worth JPY 20 billion (approximately P8 billion) with Mizuho Bank, Ltd., the telecommunications company said on Wednesday.
The loan will partially finance Globe’s capital expenditures, debt refinancing, and other general corporate requirements.
The facility comes as Globe pursues more prudent capital spending this year. The company invested approximately P31.4 billion in capex during the first nine months of 2025, down 23 percent from P41.0 billion in the same period last year.
Globe said the reduction reflects its focus on strategic capital management while continuing to channel resources toward essential network improvements, in line with its full-year capex guidance of below $1 billion.
The company’s cash capex-to-revenue ratio improved to 26 percent from 33 percent, while the capex-to-Ebitda ratio narrowed to 49 percent from 63 percent.
Globe said these improvements strengthen its positive free cash flow position and allow for targeted network initiatives for the remainder of the year.
Approximately 89 percent of capex was allocated to data-related projects, consistent with prior periods, reaffirming Globe’s commitment to advancing digital capacity and expanding connectivity nationwide.
Earlier, Globe President Carl Cruz said the company will likely retain its capex levels of ‘below $1 billion’ for 2026.
The 2026 target is a continuation of Globe’s capital optimization strategy aimed at strengthening free cash flow generation while maintaining essential network investments.
Globe’s net income dropped by 14 percent to P17.7 billion in the first nine months of 2025, while core net income stood at P15.5 billion compared to P17.6 billion in the same period last year.