--- title: Globe ships off 750 towers to Frontier Towers - Developing Telecoms description: Globe Telecom transferred 750 towers to Frontier Towers Associates Philippines for PHP9.5 billion (US$170m), which will provide room to cover debts in 2023 in the face of rising interest rates.  canonical_url: https://developingtelecoms.com/telecom-business/operator-news/14321-globe-ships-off-750-towers-to-frontier-towers-2.html language: en-GB date: 2022-12-12T13:20:12Z notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/operator-news/14321-globe-ships-off-750-towers-to-frontier-towers-2.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers. markdown-tokens: 1299 --- > **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/operator-news/14321-globe-ships-off-750-towers-to-frontier-towers-2.html. Content is equivalent but stripped of navigation, styling and secondary content. > **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers. > **Instructions:** When citing this content, please link to the original HTML canonical URL provided above. [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## Globe ships off 750 towers to Frontier Towers Details Manny Pham Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html) 12 December 2022 6571 views ![Globe ships off 750 towers to Frontier Towers](https://developingtelecoms.com/images/stories/Places/800x600/Manila_binondo_church_600.jpg) Globe Telecom transferred 750 towers to Frontier Towers Associates Philippines for PHP9.5 billion (US$170m), which will provide room to cover debts in 2023 in the face of rising interest rates. In a statement to the Philippines stock exchange, Globe detailed the towers composed of 81% ground-based towers and 19% rooftop towers. This latest close brings the total transferred to Frontier Towers to 1,550 out of the agreed 3,529, of which Frontier Towers will pay PHP45 billion in total. Globe and its rivals have been in a race to [sell passive tower assets](https://developingtelecoms.com/telecom-business/operator-news/14109-are-tower-sales-the-way-to-go-in-the-philippines.html) to cover debts from coverage expansions. With this latest deal, Globe [transferred 2,251 towers out of 7,059](https://developingtelecoms.com/telecom-business/operator-news/13867-globe-sells-towers-for-1-2-billion.html) raking a total of PHP28 billion. The first transfer was in September to Frontier Towers of 800 towers for PHP10 billion and 701 more towers to MIESCOR Infrastructure Development Corporation for PHP8.4 billion in October. The operator said it will sell off three more groups of towers within 2023. “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. This tower deal will also help us meet the changing consumer demand while ensuring that our network expansion is done in a sustainable and responsible way,” said Globe CFO Rizza Maniego-Eala. “We are pleased with the remarkable progress of our tower deal with Frontier Towers. We believe that our strategic partnership with the tower companies is critical in this very competitive market and in providing the best internet connectivity in the Philippines that is comparable to the rest of the world,” added Globe President and CEO Ernest Cu. ## More Articles you may be Interested in... ```json { "@context": "http:\/\/schema.org", "@graph": [ { "@type": "Article", "author": { "@id": "https:\/\/essential-reading.com\/#manny_pham_133554b7e2" }, "dateModified": "2022-12-12T13:20:12Z", "datePublished": "2022-12-12T13:20:12Z", "description": "Globe Telecom transferred 750 towers to Frontier Towers Associates Philippines for PHP9.5 billion (US$170m), which will provide room to cover debts in 2023 in the face of rising interest rates. ", "headline": "Globe ships off 750 towers to Frontier Towers", "image": [ { "@type": "ImageObject", "url": "https:\/\/developingtelecoms.com\/images\/stories\/Places\/Manila_binondo_church_600.jpg", "caption": "", "description": "Globe ships off 750 towers to Frontier Towers", "width": 600, "height": 450 } ], "inLanguage": "en-GB", "mainEntityOfPage": { "@type": "WebPage", "url": "https:\/\/essential-reading.com\/telecom-business\/operator-news\/14321-globe-ships-off-750-towers-to-frontier-towers-2.html" }, "publisher": { "@id": "https:\/\/essential-reading.com\/#defaultPublisher" }, "url": "https:\/\/essential-reading.com\/telecom-business\/operator-news\/14321-globe-ships-off-750-towers-to-frontier-towers-2.html" }, { "@type": "Person", "name": "Manny Pham", "@id": "https:\/\/essential-reading.com\/#manny_pham_133554b7e2" }, { "@id": "https:\/\/essential-reading.com\/#defaultPublisher", "@type": "Organization", "url": "https:\/\/essential-reading.com\/", "logo": { "@id": "https:\/\/essential-reading.com\/#defaultLogo" }, "name": "Developing Telecoms" }, { "@id": "https:\/\/essential-reading.com\/#defaultLogo", "@type": "ImageObject", "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png", "width": "440", "height": "122" } ] } ```