Translated version of this PSD: Bulgarian
The EBRD is considering providing a €20 million loan to Bulsatcom EAD (the “Company”), the leading Bulgarian pay -TV and broadband operator. The funds will be used to expand the Company’s LTE/4G mobile data network as well as further roll-out fibre optic networks.
The project will support market expansion through improving access to broadband in urban and rural areas in the country at affordable prices. This is important in the context of Bulgaria having one of the lowest fixed broadband penetration rates in the EU.
Bulsatcom is a Direct To Home (DTH) satellite TV operator with nationwide coverage reaching remote regions in the country, in particular rural and mountainous areas. The Company also provides broadband internet to its subscribers through its fixed nationwide fibre network and is in the process of launching mobile broadband services.
€20 million senior secured loan alongside a €65 million senior secured syndicated loan being arranged by a commercial bank.
Categorised B. The expansion and operation of mobile telecom and fibre-optic broadband networks are not associated with significant environmental and social issues. Due diligence included the review of Environmental & Social and HR/OHS Due Diligence Questionnaires which confirmed that the Company's environmental and social and HR/OHS policies and practices are in compliance with national and EU environmental standards and in line with PRs. The Company is required to implement the project in compliance with the Bank’s requirements and submit annual environmental and social reports to the Bank.
Maxim Zayakov, CEO.
Tel: +359 2 9654740
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