Globe Telecom Joins Candle Cable Consortium to Boost Digital Infrastructure in Philippines
Globe Telecom's involvement in the Candle Cable System consortium is poised to enhance the Philippines' digital infrastructure and attract investments in cloud and data center sectors. This subsea cable project, expected to begin operations by 2028, will significantly improve international connectivity in the region.
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Globe Telecom has joined the Candle Cable System consortium, which aims to bolster the Philippines' digital backbone and support cloud and data center growth. The Candle Cable system, an 8,000-kilometer subsea network with a capacity of 570 terabits per second, connects Japan, Taiwan, Indonesia, Malaysia, Singapore, and the Philippines.
Anticipated to commence operations by 2028, the system will feature high-capacity, low-latency fiber pairs. Globe's participation as an investor and landing party is expected to strengthen international connectivity and facilitate increased data traffic driven by advancements in AI, cloud computing, and 5G. As part of a liability management strategy, Globe also launched a tender offer for $600 million in perpetual securities, with an optimistic market outlook.
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