- EBRD supports first corporate green bond issuance in Poland
- Telecommunications group Cyfrowy Polsat raises PLN 1 billion for energy efficiency
- EBRD to invest PLN 200 million
The EBRD is supporting the first corporate green bond in Poland by investing PLN 200 million (€47 million) in the issuance by the telecommunications and media group Cyfrowy Polsat.
The company is raising a total of PLN 1 billion to refinance its investments in energy efficiency, including the acquisition of state-of-the-art technology as well as upgrades to existing networks.
The green bond framework prepared by the company is aligned with the Green Bond Principles and supported by a second opinion from Sustainalytics, an international environmental, social and governance ratings agency, declaring: “The Cyfrowy Polsat Group Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles.”
The bond was issued on the Polish local capital market and placed with a large number of local and international investors. It will be listed on the Alternative Trading System of the Warsaw Stock Exchange.
Cyfrowy Polsat operates across the full spectrum of telecommunications services and offers free-to-air television broadcasting and content production, satellite pay television, mobile telephony, fixed and mobile broadband, mobile television and online video. The company has been listed on the Warsaw Stock Exchange since 2008.
Dirk Werner, EBRD Director, Head of Information and Communication Technologies, Banking, said: “We are very pleased to invest in the first corporate green bond in Poland. This is a groundbreaking initiative and illustrates how addressing green issues is increasingly coming to the fore in Poland. For us the engagement in the bond is a bespoke opportunity to combine the development of the local capital market with the support for a green, sustainable and energy efficient economy – our key priorities in the country.”
Mirosław Błaszczyk, CEO of Cyfrowy Polsat, said: “Ecology and protecting the natural environment are issues that we care about very much. We are proud that the projects that the Group has pursued so far in this area have gained positive acclaim from independent experts. The first green bond has been highly appreciated by financial institutions. We are committed to continuing green investments, including in the energy efficient upgrade of our telecommunication infrastructure, sustainable production processes and the circular economy as well as in waste and e-waste management.”
Since the beginning of its operations in Poland in 1991, the EBRD has invested €10.3 billion in more than 434 projects in the country. In addition to its wide product range of bilateral facilities for companies and financial institutions, in recent years the EBRD has developed a growing portfolio of capital market investments (both equity and debt), for which demand is high.