Torrecom Partners LLC
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
USD $ 30,000,000
Project scope and objective
IDB Invest considers providing a multi-borrower senior secured loan of up to US$30 million to Torrecom and its operating subsidiaries in Latin America. The proposed financing will be used to (i) fund growth CAPEX and associated costs in 2022-2024 in El Salvador, Mexico, Guatemala, Panama, Colombia, Peru, Chile, Paraguay and Ecuador; and (ii) refinance the existing debt in Guatemala, Mexico and Panama. The proposed financing is expected to be part of a US$70 million co-financing facility funded by Proparco, DEG and IDB Invest.
The objective of the proposed financing is to reduce digital divide in the space of mobile telecom infrastructure by supporting a multi-carrier, shared infrastructure operator. Founded in 2010, Torrecom is one of the independent tower companies in Latin America with a portfolio of 1311 telecom towers under operation in 9 counties as of October 2022. Torrecom has focused on markets in Central America since its inception, becoming a leading tower company in such region. In the next years, Torrecom plans to consolidate its position in South America.
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