“These tower assets are composed of 81% ground-based towers and 19% rooftop towers,” Globe said in a disclosure to the stock exchange.
The company noted that it has already achieved 32% closing of its tower deal with the transfer of ownership of 2,251 out of 7,059 towers for P28 billion. The proceeds will be used to fund debt and capital expenditures to support the company’s network expansion.“We are happy that we have successfully completed 32% of this record-breaking initiative giving us much leeway to cover for our 2023 debt servicing requirements amidst the backdrop of rising interest rates,” Globe Chief Finance Officer Rizza Maniego-Eala said.
Source: News Formal (newsformal.com)
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