Enhancing digital connectivity in the Philippines

Macquarie Capital has committed 100 per cent of the equity to support PhilTower’s acquisition of up to 1,350 towers from Globe Telecom, enabling it to expand its reach into local communities that could benefit from better mobile network access.

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Sector   Infrastructure
Sub-sector Digital 
Location Philippines


A renewed focus by the Philippine Government on improving telecommunications and digital services in the country has increased demand for tower infrastructure.

PhilTower is one of the fastest-growing independent telecommunications tower companies in the Philippines and serves all three major mobile network operators (MNOs). Its shared infrastructure enables MNOs to rapidly and cost effectively expand network coverage amongst the country’s population and meet growing demand for 4G and 5G services.


Macquarie Capital has been a shareholder in PhilTower since 2021 and committed 100 per cent of the equity to support its acquisition of up to 1,350 telecommunications towers from Globe Telecom Inc. 

Macquarie Capital also acted as the exclusive financial advisor to PhilTower for the sale and leaseback transaction.


The first financial close is expected to be achieved in January 2023. 

PhilTower’s expansion into Visayas and Mindanao regions in the Philippines as a result of this transaction will give the company a truly nationwide reach. The long-term strategic partnership with MNOs allows it to bring efficiency, cost savings and faster expansion, and further strengthen digital infrastructure in the Philippines.

The acquisition enables PhilTower to enhance digital connectivity and expand its reach into local communities that could benefit from better mobile network access, a key economic driver for the Philippines.

$A520 million1

expected funds to be raised

Up to 1,3502

towers acquired

Our ongoing support for PhilTower and involvement in this transaction highlights Macquarie’s continued commitment to growing critical digital infrastructure in the Philippines and cementing PhilTower’s position as a leading independent tower company in the nation."

Ivan Varughese,
Senior Managing Director and Head of Infrastructure and Energy Capital, Asia Pacific, Macquarie Capital

  1. Information accurate as at 21 December 2022 unless otherwise stated
  2. Globe Telecom Inc. press release, 23 September 2022

Our impact

2023 Annual General Meeting

At Macquarie Group's 2023 Annual General Meeting, we showcased how Macquarie Capital is helping PhilTower expand critical digital infrastructure for mobile operators in the Philippines – enhancing digital connectivity for local communities.