Company name
* Phoenix Tower International LLC and its relevant Subsidiaries
Project number
12523-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Bolivia
Sector
Digital Economy
Status
Proposed
Disclosed date
11/09/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/14/2018
Approval date
12/13/2018
Signed date
02/15/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 15,000,000
Financing amount
USD $ 45,000,000
Currency
USD
Project scope and objective
The proposed transaction consists of a Senior Loan for a period of 10 years for an amount up to US$60 million (the “IDB Group Financing”) to support PTI’s: (i) capital expenditure plan, and (ii) acquisitions. IDB Group’s market knowledge and expertise in developing markets is well suited to assist PTI in the Caribbean and South American market.
The financing will consist of an A Loan of up to US$45 million and a B Loan for up to US$15 million.
PTI is a leading independent owner and operator of wireless communications infrastructure leasing sites to Mobile Network Operators (“MNOs”) across the Caribbean and Latin American region.
AMENDMENT
December 4 of 2018:
* Phoenix Tower US Holdings, LP and its relevant Subsidiaries.
** Prior to Second Disbursement.
*** Regional: South America and the Caribbean.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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