Emitel has signed a new Loan Facilities Agreement with a consortium of leading Polish and international banks, under which it has secured financing of up to PLN 1.57 billion of financing. The Agreement includes a Senior Secured term loan, a Capex Facility, and a Revolving Credit Facility. The consortium of Lenders includes those in the Company’s existing Facility Agreement together with new Financial Institutions.
The term loan tranches will be used to retire 2020 Facility, and the investment and revolving tranche will be applied to finance the company’s operational activities and investments, and acquisition plans. The agreement will mature in the second half of 2030. The closing of the transaction and the commencement of financing will take place when standard closing conditions are satisfied.
We are delighted with the support and recognition received from some of the leading Banks in Europe with respect to Emitel. Emitel is national champion in Poland with an outstanding management team, and continues to perform admirably. We look forward to working with Company and this group of institutions in the future to spur further growth of Emitel – said Steven Marshall, Chairman of the Supervisory Board of Emitel S.A.
In recent years, Emitel has been implementing several strategic projects which have absorbed significant investments. One of the most important and at the same time most complicated projects was the process of refarming the 700 MHz band and changing the standard of digital terrestrial television broadcasting. The project, which has been implemented for over 3 years, is of fundamental importance for the television market and the future of the terrestrial television platform in Poland. Emitel also pursued a strategy for the segment of telecommunications services and infrastructure, consistently expanding the portfolio of high-altitude facilities. In June this year, Emitel acquired ATC Polska with 65 modern telecommunication towers. Currently, the company has 667 high-facilities objects and intends to continue to develop the base of facilities in Poland, nor does it exclude further acquisitions.
– The Company’s financing strategy assumes a successive reduction in the debt ratios of the company, and at the same time provides funds for development. We have obtained favorable conditions for the company, giving us space to operate efficiently for the next several years. I thank all the funding institutions for their trust and positive assessment of the company’s strategy and plans for growth beyond the current decade – said Maciej Pilipczuk, CFO, Member of the Management Board of Emitel S.A.
The consortium with which the agreement was signed included: Bank Handlowy w Warszawie S.A., PKO Bank Polski S.A., Bank Gospodarstwa Krajowego, PZU S.A., Bank Pekao S.A. (also acting as a Credit Agent and Security Agent), DNB Bank ASA, BNP Paribas Bank Polska S.A., Credit Agricole Bank Polska S.A., Bank Ochrony Środowiska S.A. and Alior Bank S.A.
