Translated version of this PSD: Polish
The European Bank for Reconstruction and Development (EBRD) invested in senior unsecured PLN denominated bonds with 6 years maturity, issued by Cyfrowy Polsat S.A., a leading Polish telecommunications and media company.
The expected transition impact of the project is derived through demonstration of new financing methods
(i) by fostering development of the local corporate bond market by supporting a sizable local currency (PLN) corporate bond issue of a longer maturity, and
(ii) through market expansion by extending telecommunication networks and increasing mobile broadband coverage into remote areas outside the main cities.
Cyfrowy Polsat S.A. (Cyfrowy) is offering telecommunications, pay-TV and broadcasting services to its customers. The company is listed on the Warsaw Stock Exchange, with the majority of its capital privately controlled.
Total bond issue value amounted to PLN 1 billion (approx. EUR 250 million).
Environmental and social categorisation, impact, and mitigation
Categorised B. The Annual Environmental and Social Report from Cyfrowy and abbreviated questionnaire have confirmed that the company is in compliance with national law as well as pertinent EBRD Performance Requirements. The Bank's subscription of Cyfrowy's bonds and Cyfrowy's media and telecommunication operations are unlikely to be associated with significant environmental and social issues. Cwfrovy will be required to continue to comply with EBRD Performance Requirements and submit an annual environmental and social report.
Ersida Docaj email@example.com +44 207 338 8825
For business opportunities or procurement, contact the client company.
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Text of the PIP