Project description
and objectives:
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The EBRD is considering co-funding the capital expenditure programme, which includes early additional GSM network rollout and extension of the maturities of the company’s existing borrowings. The funds will be used to roll out additional GSM capacity and extend the maturities of existing borrowings.
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Transition impact:
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The transaction will act as a model for large long-term financing in an industry that is suffering from strong negative sentiment among banks. The Bank has received written confirmation from the Ministry of Telecommunications about the government’s intentions to reduce the state’s stake in Telekom Slovenije to below 50 per cent. Finally, this would be the largest syndicated deal in Slovenia and the Bank would play a high profile, senior role providing an innovative financial product.
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The client:
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Mobitel d.d. is the largest GSM services provider in Slovenia. Mobitel is due to launch its 3G service in late 2002. The company is a wholly-owned subsidiary of Telekom Slovenije, the fixed line incumbent in the country 66.5 per cent-owned by the Republic of Slovenia. The Telekom Slovenije group is due to be privatised in 2002-2003.
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EBRD finance:
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Sumitomo Mitsui Banking Corporation ("SMBC") and West-LB have been mandated to raise €265 million debt financing with 5 and 7-year maturities. Part of this loan (about €150 million) will be provided by the European Investment Bank (EIB) on a 5-year basis. The remainder will be provided by commercial banks and the EBRD. The Bank envisages providing a senior facility of up to €25 million with a 7-year maturity.
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Total project cost:
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€265 million.
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Environmental impact:
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The company is required to conduct their activities in accordance with relevant national and EU environmental, health and safety standards and requirements.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mobitel d.d.
Vilharjeva 23
1537 Ljubljana
Slovenia
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EBRD contact:
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Sibylle Grasset, Operation Leader: grassets@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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