EBRD invests PLN100mn in mobile operator Play’s bonds to fund 5G rollout

EBRD invests PLN100mn in mobile operator Play’s bonds to fund 5G rollout
By bne IntelliNews January 25, 2021

The European Bank for Reconstruction and Development (EBRD) is supporting Poland’s mobile network operator Play with an investment of PLN100mn (€22.02mn) in Play’s senior unsecured bonds, the EBRD said on January 22.

Play will invest the funds in a roll-out of 5G technology. With the investment, which implies lower energy consumption compared to previous technologies, the company “will intensify its efforts to improve the energy efficiency of its network and offer customers faster and more reliable mobile broadband,” the EBRD noted.

The total volume of the issuance was PLN500mn. The bond was issued on the Polish local capital market and placed with a wide group of institutional investors and will be listed on the Warsaw Stock Exchange’s alternative trading market. 

Play’s bonds have a maturity of seven years, the longest tenor among issuances placed in the corporate sector since the beginning of the lockdown in Poland in March 2020, the EBRD said.

Play is the brand name of P4, which was recently acquired by French telecom Iliad. The company had over 15mn subscribers as of June 2020 and a subscriber market share of around 28%. 

“The coronavirus pandemic has dramatically demonstrated the need to accelerate the digitalisation of the economy. Play’s investment in 5G, the latest mobile communications technology, is an important step for Poland’s progress with this transformation,” said Dirk Werner, director and head of telecommunications, media and technology at the EBRD.


Related Articles

Polish-UK fintech Fluency to focus on central banks’ digital currency

Fluency, the UK-based fintech created by Polish emigrants, plans to sell its cryptocurrency banking business and focus on working with central banks’ digital currency efforts, newspaper Puls ... more

Poland well positioned for durable post-COVID-19 recovery, says IMF

Poland did well in supporting the corporate sector and labour market during the COVID-19 (coronavirus)-induced recession and is now “well-positioned for a durable recovery,” the International ... more

EIB lends €100mn to Poland’s Pekao Leasing for financing SMEs’ efforts in energy, women’s entrepreneurship

The European Investment Bank (EIB) launched a new €100mn loan to the Polish company Pekao Leasing for the financing of small and medium-sized enterprises, the EIB said on January 19. In ... more