Globe Telecom Inc. said Friday it closed a deal with Unity Digital Infrastructure , a partnership between Aboitiz InfraCapital and Partners Group, for the additional sale of 55 telecom towers for P660 million.
The Ayala-led telecom company said the new transaction brought the total sold telecom towers to 170 of 447 towers to be acquired by Unity.
Globe signed in May a sale and leaseback agreement with Unity Digital for the sale of 447 towers amounting to about P5.4 billion.
“There will be multiple closing dates which will happen as and when closing conditions are met,” Globe said.
“The transaction will result in availability of funds for Globe to support future capital expenditures, debt repayments and debt avoidance with the expectation to improve the balance sheet health of the company,” it said.