Czech Republic

Project number:


Business sector:

Information and Communication Technologies

Notice type:


Environmental category:


Approval date:

23 Jul 2002



PSD disclosed:

02 Aug 2002

Project Description

Syndicated debt facility to TES Media and Intercable CZ, respectively the third and second largest cable TV operators in the Czech Republic.
The EBRD's involvement will facilitate the acquisition of Intercable CZ, the second largest Czech cable TV operator, by TES Media shareholders, and support further development of the merged entity. The proceeds will be used to fund the acquisition and refinance the existing debt facility and the grace period will allow the companies’ network development.

Transition Impact

The project would support the consolidation process in the Czech cable TV industry and foster the emergence of advanced and integrated telecommunications services. In particular, the Bank’s investment will help promote competition and stimulate customer choice in the Czech Internet market.

The Client

TES Media, s.r.o. is the third largest cable TV operator in the Czech Republic operating since 1991. The company is majority owned by private equity investors; Baring Communications Equity and JP Morgan Partners. Intercable CZ, s.r.o. is the second largest cable TV operator in the Czech Republic, currently indirectly owned by the Dutch telecoms operator KPN.

EBRD Finance

Local currency loan of US$ 10 million (€10.1 million) equivalent. EBRD financing will be a part of US$ 35 million syndicated senior debt facility maturing in 2008 and 2009 provided in Czech Koruna. The lead arrangers and underwriters are Bank Austria, BNP Paribas, EBRD and JP Morgan plc.

Project Cost

US$ 35 million (€35.3 million equivalent).

Environmental Impact

The project has been screened B/0 by the Environmental Department requiring an environmental analysis of the proposed project. The analysis has been carried out on the basis of TES’ response to the EBRD's telecommunications & media projects questionnaire. There are unlikely to be any significant environmental issues associated with the project. The Sponsor has all necessary permits required for their operations in place and complies with all relevant Czech environmental, health and safety standards and requirements. The Analysis also confirmed that construction plans, including siting and disposal of potentially hazardous materials, worker health and safety, will be undertaken in accordance with relevant EU, national and local legal requirements.

Technical Cooperation


Company Contact


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

EBRD project enquiries not related to procurement:
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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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