MANILA, Nov. 19 -- Globe Telecom, Inc. has secured a 20 billion Japanese yen (around PHP7.6 billion) term loan from Mizuho Bank Ltd., to be used to finance more projects, refinance liabilities and for other corporate requirements.

In a disclosure with the Philippine Stock Exchange (PSE) Wednesday, the telecommunications company said capital expenditures (capex) as of end-September this year reached PHP31.4 billion, down 23 percent against the PHP41 billion a year ago.

"This reduction reflects the company's focus on strategic capital management while continuing to channel resources toward essential network improvements, in line with its full-year capex guidance of below USD1 billion," it said.

The listed firm said cash capex-to-revenue ...