Company name

Colombia Telecomunicaciones S.A. ESP - Coltel

Project number

12618-01, 12618 - 02

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

Colombia

Sector

Telecommunications, Media and Technology

Status

Proposed

Disclosed date

08/09/2019

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

Projected board date
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09/10/2019

Approval date

09/10/2019

Signed date

N/A

Sponsoring entity

N/A

Team leader

Edgar Cabañas, Senior Investment Officer - TMT

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

N/A

Currency

USD

Project scope and objective

The project consists of two types of financing: (i) a line of credit for up to US$100 million in local currency to finance the fixed investments of Colombia Telecomunicaciones S.A. ESP (hereinafter “Coltel,” “Enterprise,” or “Company”) during the 2019-2020 year (the “Financing”); and (ii) a facility for purchasing up to US$60 million of accounts receivable (the “Facility”) that will be used to discount invoices from Coltel’s program to finance individual and corporate subscribers’ purchase of mobile devices, communication equipment, and telecommunications service. The line of credit granted under the Financing will have a term of up to seven years and a grace period of up to two years. The Facility will be available for a period of up to 48 months and invoices will have a payment period of up to 24 months. The company is not obliged or committed to take the line of credit under the Financing or the purchase of portfolio under the Facility.


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Contact information

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CONTACT NAME

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POSITION

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PHONE NUMBER

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EMAIL

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IDB Invest Contact

EMAIL

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PHONE

+1(202)-566-4566

ADDRESS

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