Cosmote Mobile

Location:

Greece

Project number:

49130

Business sector:

Information and Communication Technologies

Notice type:

Private

Environmental category:

B

Approval date:

20 Jun 2017

Status:

Complete

PSD disclosed:

17 Aug 2017

Translated version of this PSD: Greek

Project Description

The EBRD is extending a €150 million syndicated loan to Cosmote Mobile Telecommunications SA, a fully owned subsidiary of Greece's largest telecommunications provider OTE Group. The financing package consists of an EBRD A loan of €85 million as part of a €150 million A/B syndicated loan, with €65 million mobilised from commercial lenders.

Project Objectives

The funds will finance the expansion of energy efficient 4G/4G+ networks, as well as green and sustainable energy solutions at Cosmote also aimed at improving infrastructure resilience to the
impact of extreme weather, heat stress and high temperatures.

Transition Impact

The information and communication technologies (ICT) sector is currently consuming approximately 10 per cent of the global electricity generation and such improvements are becoming ever important. They contribute to a more reliable energy supply, efficient use of energy and climate resilient infrastructure, all integral parts of the ICT business. This will ultimately increase the resilience of Greek companies and reduce climate change emissions. Strengthening the resilience of the economy in the countries where it invests is one of the EBRD's strategic priorities, as is making them greener.

Client Information

COSMOTE MOBILE TELECOMMUNICATIONS SA

EBRD Finance Summary

EUR 85,000,000.00

Total Project Cost

EUR 300,000,000.00

Environmental and Social Summary

The ESDD showed that Cosmote environmental and social risk management systems are in line with EBRD PRs. The Group is publicly committed to good environmental and social sustainability practices and is a member of UN Global Compact. The official 2016 Sustainability Report comprehensively covers all environmental and social sustainability aspects of the Group's activities and objectives. The Group is accredited with ISO 14001 and OHSAS 18001. The Group has corporate fair employee policy in accordance with legal requirements of Greece and the EU as well as the UN Global compact.

Technical Cooperation

None

Company Contact Information

Elisa Mylona
emylona@ote.gr
+30 210 6118946
+30 210 3405215
https://www.cosmote.gr/otegroup/en_index.jsp
99 Kifissias Avenue, GR-15124 Marousi, Athens, Greece

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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