Project description
and objectives:
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The Bank is proposing to finance part of a PLN 420 million senior debt facility in favour of Tel-Energo S.A., a leading alternative telecoms operator in Poland.
The transaction will allow Tel-Energo S.A. to consolidate its existing financing and raise additional loan funds from the syndicated debt market. The proceeds of the loan will be used to refinance all existing indebtedness of the company and provide funds for further development of its network in Poland and for the acquisition of telecoms companies in Poland.
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Transition impact:
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The transition impact of the project will derive from the ongoing development of competition in the Polish telecoms market. The financing package constitutes a part of a plan that could result in the privatisation of Tel-Energo S.A. in the medium term.
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The client:
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Tel-Energo SA is a leading player in the Polish telecommunications market, operating the country’s second-largest backbone and access network. The Company is 75% owned by Polskie Sieci Elektroenergetyczne SA.
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EBRD finance:
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The EBRD will act as a senior lender in a proposed financing package that consists of an EBRD senior convertible loan and a senior parallel loan from Raiffeisen Bank Polska S.A., Kredyt Bank Polska S.A. and Nordea Bank Polska S.A. The amount is confidential pending negotiations.
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Total project cost:
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Up to PLN 420 million (€105 million equivalent)
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Environmental impact:
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The project was screened B/0, requiring an environmental analysis of Tel-Energo's environmental, health and safety policy and practice. The analysis examined the environmental issues associated with construction and operations, public participation, nature protection, use and disposal of hazardous materials and obsolete equipment and health and safety. Tel-Energo S.A. has all necessary permits for their current operation in place. All other permits required for the expansion of their operation will be obtained as the project progresses. The analysis also confirmed that all construction plans, including siting and disposal of potentially hazardous materials, worker health and safety, will be undertaken in accordance with relevant EU, national and local legal 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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EBRD contact:
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Chris Taubman, Operation Leader: taubmanc@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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