📋 Tender Overview
Location:
Poland
Project number:
56041
Business sector:
Telecommunications, Media and Technology
Notice type:
Private
Environmental category:
B
Approval date:
12 Feb 2025
Status:
Signed
English-language PSD published:
06 Mar 2025
Project Description
The European Bank for Reconstruction and Development ("EBRD") invested in a 5-year senior unsecured PLN denominated bond issued by P4 Sp. z o.o. ("Play"), a leading Polish mobile telecom operator.
Project Objectives
EBRD has subscribed with PLN 125 million to the inaugural Green Bond of Play with the total issuance size of PLN 700m, which will support green capex eligible under the Green Financing Framework of Play's parent entity, Iliad S.A.
Transition Impact
ETI score: 60
The Transition Impact stems from the following transition qualities:
Green: The green capex and energy efficient upgrades are expected to result in significant GHG emissions reductions.
Resilient: The Project will contribute to the development of local capital markets through investments in local currency green financing instruments
Client Information
P4 SP ZOO
P4 Sp. z o.o. ("Play") is a leading telecommunication operator in Poland providing mobile voice, messaging, data, fixed internet, TV and video streaming services for both consumers and businesses. The Company is owned by the French company Iliad S.A..
Additionality
EBRD's additionality derives from acting as an anchor investor, as the Project will support a sizeable, listed issuance in local Currency as well as advancing gender equality, as Play will set new ambitious targets to increase the share of women in managerial and technical positions.
Environmental and Social Summary
Categorised B (ESP 2019). Green capex financing related to improve the energy efficiency of mobile networks, data centres and buildings will have limited environmental and social impacts. As this is a capital markets transaction, the Environmental and Social Due Diligence (ESDD) has been based on publicly available information including the Company's Sustainability Report, Green Finance Framework and the Second Party Opinion. The Company is an existing Client and E&S performance to date is satisfactory. The Company has an Environmental and Social Management System (ESMS) based on compliance with EU law and maintains monitoring and reporting procedures. Labour management and health and safety practices align with Environmental and Social Requirements 2 and 4. The Company has contractor management systems and will monitor contractor's compliance. The Green Financing Framework has been verified as aligned with the Green Bond Principles 2021 by the Second Party Opinion provider. The Company has sufficient capacity and plans to manage potential Project risks including data privacy, waste management and health and safety. These include a personal data protection framework, waste management plans in line with relevant EU directives and, appropriate h
