Gigared S.A. and Gigacable S.A.
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.
Telecommunications, Media and Technology
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Arauz, Gonzalo C.
USD $ 10,000,000
USD $ 20,000,000
Project scope and objective
The transaction consists of a loan of up to US$30 million to Gigared S.A. and Gigacable S.A. (“Gigared”), US$20 million of which will be financed by the IDB Group and, if agreed to by the parties, it may include mobilizing funds of up to US$10 million (to be financed by commercial banks) (the Loan"). The Loan will be for a term of up to 7 years, including a grace period of 2 years, and will be used to finance (i) the expansion of its broadband network by connecting more homes and businesses in Buenos Aires and 6 provinces in the Northeast of Argentina (organic growth) and (ii) possible acquisitions (inorganic growth).
Gigared is a telecommunications group that provides cable television ("CATV"), fixed telephony and cable modem Internet services ("ISP") through Fiber to the Home ("FTTH") urban networks wiring, Hybrid Fiber Optic-Coaxial Network ("HFC"), including triple play service (cable TV, Internet and fixed telephony) and connectivity and data center services for businesses (this activity, at its facilities in the Autonomous City of Buenos Aires). Gigared’s activities take place in the provinces of Entre Ríos, Santa Fe, Corrientes, Chaco and Misiones, and in the Autonomous City of Buenos Aires, Argentina. The laying down of fiber optics cables begins in Villa Ortúzar, Autonomous City of Buenos Aires, and extends along the coastline. The administrative facilities and central warehouses are located in the Autonomous City of Buenos Aires.
To be confirmed.
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IDB Invest Contact
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