Company name

Torrecom Partners LLC

Project number

13612-01

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
tooltip

B

Country

Regional

Sector

Digital Economy

Status

In implementation

Disclosed date

10/21/2022

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
tooltip

12/02/2022

Approval date

12/02/2022

Signed date

12/28/2022

Sponsoring entity

N/A

Team leader

Vega Aldana, Mario Andres

Investment type

Syndicated amount

N/A

Financing amount

USD $ 30,000,000

Currency

USD

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.

For inquiries, comments and information requests about the project

Request information

Learn 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.

TORRECOM - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

184.3 Kb

TORRECOM - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

829.4 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Victor A. Lago

POSITION

Chief Legal Officer

PHONE NUMBER

305-409-7983

EMAIL

Vlago@torrecom.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.