📋 Tender Overview
Project ID: 56262
Status: Signed
Location: Poland
Business Sector:
Notice Type: Private
Approval Date: 25 Jun 2025
Disclosure date: 30 Jun 2025
Project Description
Senior secured loan in favour of Swiatlowod Inwestycje sp. z o.o. ("S-I" or the "Company"), the largest wholesale-only operator of open-access fibre optic infrastructure in Poland. The Bank's financing will support the refinancing of existing debt and Fibre-to-the-Home ("FTTH") network expansion. The financing provided by the commercial lenders and the EBRD includes ESG provisions in accordance with the Green Loan Principles and Sustainability-Linked Loan Principles developed by the Loan Market Association. The structure includes three key performance indicators ("KPIs") related to the circular economy, digital inclusion, and S-I's GRESB score - a globally recognized sustainability benchmark.
Project Objectives
The Company needs to refinance its existing debt and secure a capex facility as it enters a new phase of its ambitious FTTH rollout programme in semi-urban areas. S-I plans to extend its FTTH network to reach 3.1 million households across Poland by the end of 2032, with a meaningful share of the expansion targeting digitally underserved communities.
Transition Impact
ETI score: 65
Integrated: the project will support the expansion of FTTH infrastructure in semi-urban areas in Poland, placing particular emphasis on underserved regions. This will help accelerate the integration of these regions into Poland's digital economy and contribute to addressing long-standing ICT infrastructure disparities between urban and non-urban areas.
Green: the financing supports the achievement of ambitious climate goals through a SLL structure, underpinned by multiple KPIs. Among these are a target to enhance circularity by increasing the refurbishment of Optical Network Terminal equipment by a cumulative 125% from the 2024 baseline, and a commitment to maintain a GRESB score of at least 94 out of 100.
Client Information
SWIATLOWOD INWESTYCJE SP ZOO
Swiatlowod Inwestycje is the largest wholesale-only operator of open-access fibre optic infrastructure in Poland. S-I offers FTTH services to Internet Service Providers ("ISPs") who provide end-users with internet and other broadband services. The Company was established in 2021 as a 50/50 joint-venture between Orange Polska, the largest telecom operator in Poland, and APG Asset Management, a leading pension asset manager with extensive experience and a proven track record in telecom infrastructure investments, to roll-out FTTH broadband in semi-dense areas across Poland. The Company hosts 19 active ISPs on its network, including all major Polish players, with Orange Polska as the anchor tenant.
