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Company name

Cable and Wireless Panama S.A.

Project number

13960-01

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
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B

Country

Panama

Sector

Digital Economy

Status

In implementation

Disclosed date

11/03/2022

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

Projected board date
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12/13/2022

Approval date

12/13/2022

Signed date

01/05/2024

Sponsoring entity

Cable & Wireless Panamá S.A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 100,000,000

Currency

USD

Project scope and objective

The proposed investment consists of a Revolving Line for the Purchase of Accounts Receivable through which IDB Invest will purchase Cable and Wireless Panamá S.A. ("CWP") at a discount (to market price) with and/or without recourse, a full or proportional part of the eligible accounts receivable, including invoices, PPAs (Partial Payment Accounts) or CNOs (Certificates of No Objection) to be paid by the corresponding debtor. An Accounts Receivable Purchase Agreement with the Seller will establish the legal framework and mechanism for the sale, assignment and transfer of the Eligible Accounts Receivable issued and accepted in accordance with the agreement signed between the Seller and the debtor.

 

CWP, a subsidiary of Cable & Wireless Communications Limited and Cable & Wireless CALA Holding Limited (owned by Liberty Latin America Ltd.), provides fixed, mobile and broadband telephony services, pay television, corporate and business services with state-of-the-art technology, as well as solutions and applications from various fields such as health, education, citizen security and digital government. The market for communications platform services has been driven by an increase in the use of smartphones, as these technologies tend to be cheaper and therefore more accessible to the population. This service is reshaping the way many businesses are viewing communications.

 

The purpose of the transaction is to provide liquidity to the Company that will be invested in the deployment of telecommunications infrastructure, as well as in the delivery of broadband. These efforts are expected to contribute to closing the digital divide that requires a coordinated effort between government, regulators, regional and international organizations, and the private sector.

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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.

CABLE WIRELESS REVOLVING CREDIT FACILITY - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

102.4 Kb

CABLE WIRELESS REVOLVING CREDIT FACILITY - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

327.7 Kb

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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

Remy.Obleas@cwpanama.com

PHONE NUMBER

+507 224-2123/+507 224-6161

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

Request information

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