Company name
Telecom Argentina S.A.
Project number
13666-01
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
Argentina
Sector
Digital Economy
Status
Proposed
Disclosed date
09/12/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/17/2022
Approval date
11/08/2022
Signed date
N/A
Sponsoring entity
Telecom Argentina S.A.
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
USD $ 525,000,000
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The proposed investment consists of a potential transaction with Telecom Argentina S.A. consisting of: (i) a Senior Loan for up to US$50 million (“A Loan”); and (ii) a Senior Loan for up to US$450 million (“B Loan”), the proceeds of which would be used to finance sustainable projects ("CapEx") related to 4G/5G infrastructure, including areas far from urban centers that currently lack access to mobile data such as La Consulta in Mendoza, Villa El Salvador in San Juan or Rivera in Buenos Aires, as well as to continue with the expansion of the Fiber to the Home ("FTTH") network, especially in remote regions such as Tartagal, and Tafí Viejo in the northwest part of Argentina and Allen and Plottier in Patagonia, areas where the Company has less coverage. In addition, the proceeds of the financing will be used to refinance certain existing financial obligations, working capital, and general corporate purposes. The financing will potentially be complemented with a co-loan for an aggregate amount of up to approximately US$75 million (“Co-Loan”).
The purpose of the transaction is to support the deployment of telecommunications infrastructure to achieve greater digital access, broadband quality, and improved connectivity in Argentina, enabling Telecom Argentina to expand its subscriber base in the medium term.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
macolombo@teco.com.ar
PHONE NUMBER
(011) 4968-4000
POST OFFICE ADDRESS
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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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.
TELECOM ARGENTINA B BOND - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
286.7 Kb
TELECOM ARGENTINA B BOND - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
133.1 Kb