Globe Telecom announced its telecom tower deal with Unity Digital Infrastructure for the sale of 447 towers.
Unity Digital Infrastructure, a partnership between Aboitiz InfraCapital (AIC) and Partners Group, will have a commitment to build over 200 towers across Visayas and/or Mindanao.
The tower assets consist of 84 percent ground-based towers and 16 percent rooftop towers — all located in Luzon.
Globe expects to raise proceeds of ₱5.4 billion from executing this transaction. Globe estimates the pre-tax net transaction gain from this transaction to be ₱1.8 billion, said Rizza Maniego-Eala, Globe’s Chief Finance Officer. Globe will use proceeds to finance capital expenditures and maturing debts.
The towers will be leased back to Globe for an initial period of 15 years.
The sale to Unity brings Globe’s total tower sold from 7,059 towers to 7,506 towers.
