- First local currency bond issuance by Polish mobile-centric operator Play
- EBRD invests PLN 106 million (€25 million) into capex projects, leading to energy efficiency
- New funds to finance company’s expansion
Play, a leading mobile telecoms operator in Poland, will expand its business thanks to the successful placement of its first local currency bond supported by the EBRD.
The Bank subscribed to the PLN equivalent of €25 million in bonds, the proceeds of which will be dedicated to financing the upgrade of its mobile network and energy efficiency investments in the company’s mobile infrastructure.
Play, a wholly owned subsidiary of Play Communications, which has been listed on the Warsaw Stock Exchange since 2017, has over 15 million subscribers and a market share of more than 25 per cent, as of the end of September 2019.
The investment will support the upgrade of the company’s mobile broadband infrastructure with state-of-the-art energy efficient technologies, resulting in energy savings and CO2 reductions. Furthermore, Play plans to diversify its energy supply to include renewable sources through running its mobile network on green energy and testing solar panels and wind turbines for the sites’ power supplies.
As a significant investor, the EBRD played an important role in the successful placement of Play’s bond. Supporting the development of the local capital market is one of the EBRD’s priorities in Poland, where it engages both as a major investor and as a partner in reform dialogue, such as in the drafting of the country’s new capital market strategy. To date, the EBRD has invested more than €10 billion in Poland through 422 projects.