Globe Reports ₱1.4-B 1st Closing Of Towers Sold To Unity

Globe Telecom Inc. has disclosed the first closing of its 115 towers sold to Unity Digital Infrastructure (Unity) for P1.4 billion.

Photo Insert: Globe's most recent transaction with Unity marked the first tranche of its 447 sale-and-leaseback deal with the joint venture telecom infrastructure platform of Aboitiz InfraCapital and its global private markets firm, Partners Group.

To date, Globe already raised P49.3 billion and completed 51 percent of its tower deals. It has officially turned over the ownership of 3,826 out of 7,506 towers sold.

The telco's most recent transaction with Unity marked the first tranche of its 447 sale-and-leaseback deal with the joint venture telecom infrastructure platform of Aboitiz InfraCapital and its global private markets firm, Partners Group.

The tower assets under the deal are composed of 94% ground-based towers and 6.0% rooftop towers in Luzon. The first closing was achieved over two months from the signing of the sale and leaseback transaction for the fourth portfolio in May.

"Our deal with Unity is aligned with our efforts to enhance customer experience and develop operational agility," remarked Rizza Maniego-Eala, Globe's Chief Finance Officer.

"Unity's partnership with Globe is a testament to our commitment to bridging the digital gap in our country and promoting digital inclusion," noted Cosette V. Canilao, president and CEO of Aboitiz InfraCapital.

The collaboration is crucial to Globe's purpose as a technology company, which is to create digital solutions that improve the lives of Filipinos, Ernest L. Cu, Globe president and Chief Executive Officer, concluded.

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