The Polish national transmission company Emitel has signed a new loan agreement with a syndicate of banks securing financing of up to PLN1.57 billion (€353 million).
The funding includes a term loan, which will be used to repay debt resulting from a loan agreement signed in 2020.
It also includes investment and revolving loans, which will help finance the company’s operating activities and investments related to development plans and further acquisitions.
Commenting on the agreement, which is valid until 2030, Emitel’s supervisory board chairman Steven Marshall said: “We are happy with the support and appreciation that Emitel has received from leading banks in Europe. Emitel is a very well managed company, constantly achieving excellent results. We look with great confidence at the further development of the company, which we will support, and at good cooperation with Emitel’s financing institutions”.
Maciej Pilipczuk, CFO and member of the management board of Emitel, added: “The strategy of financing Emitel’s operations assumes a successive reduction of the company’s debt ratios, while ensuring funds for further development. We have obtained favourable conditions for the company, which give us the space to run our business successfully in the years to come. I would like to thank all financing institutions for placing their trust in us and for positively evaluating the company’s strategy and development plans beyond the current decade”.
Emitel notes that it has implemented a number of strategic projects that have consumed significant capital expenditures. One of the most important and, at the same time, the most complex was the process of refarming the 700 MHz band and changing the DTT broadcasting standard. Implemented for over three years, the project is of fundamental importance for the TV market and the future of the terrestrial TV platform in Poland.
Emitel also successfully implemented its strategy in the segment of telecommunications infrastructure rental, consistently expanding the portfolio of high-rise buildings.
In June this year it acquired ATC Polska, which has 65 modern telecommunications towers.
Currently, the company has 667 transmitters and intends to continue to develop the base in Poland. It also does not rule out further acquisitions in this and other areas.
