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EBRD invests in sustainability-linked bond in Poland

By Nigina Mirbabaeva

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  • EBRD invests PLN 800 million (EUR 170 million) in first ICMA-aligned sustainability-linked bond in Poland
  • Grupa Polsat Plus establishes sustainability-linked financing framework
  • Bond proceeds to be invested in renewable energy projects

The European Bank for Reconstruction and Development (EBRD) invests PLN 800 million (€170 million) in a sustainability-linked bond to be issued by Cyfrowy Polsat S.A.

Cyfrowy Polsat S.A. is the consolidating entity of Polish telecommunications and media group Grupa Polsat Plus, which recently announced its expansion into the renewable energy segment. The investment is part of a bond programme of up to PLN 4 billion (€853 million).

Grupa Polsat Plus has established a sustainability-linked financing framework, enabling it to issue both sustainability-linked bonds and loans in accordance with the International Capital Market Association’s (ICMA) guidelines for sustainability-linked bonds and loans. The new issue is the first sustainability-linked bond to be issued fully in line with ICMA sustainability-linked bond principles in Poland.

Cyfrowy Polsat S.A. will invest the proceeds of the issue in renewable energy projects in Poland, which are eligible under the EBRD’s Green Economy Transition (GET) approach. These projects will also enable the company to diversify its energy mix and reduce its carbon footprint.   

Elisabetta Falcetti, EBRD Director for Poland, said: “The EBRD’s intended investment in Cyfrowy Polsat’s bond issuance supports two of the EBRD’s strategic goals in Poland: to support the green transition of the Polish economy and to strengthen local capital markets. This will be the first sustainability-linked bond issue that is fully in line with the ICMA’s sustainability-linked bond principles in Poland. We are delighted to support the introduction of this new instrument to the Polish capital markets – even more so given the challenging and turbulent market environment.”

Zygmunt Solorz, founder and President of the Supervisory Board of Cyfrowy Polsat S.A., said: “We are pleased to continue our long-term successful cooperation with the EBRD and proud of Cyfrowy Polsat for issuing the first ever sustainability-linked bond in Poland. The sustainability-linked bond issue is another important step in implementing Grupa Polsat Plus’s Strategy 2023+, providing necessary funding for the development of the new business segment – clean energy.”

Cyfrowy Polsat is a joint-stock media and telecommunications company, incorporated in Poland and listed on the Warsaw Stock Exchange. The group operates across the full spectrum of telecom services.

The EBRD is a leading institutional investor in Poland. To date the Bank has invested more than €12 billion in 489 projects across the country.

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