CREI Phils

completed

The proposed investment is a US$ 27.7 million loan from IFC, part of a syndicated debt facility of up to US$ 76.5 million arranged by IFC for CREI Phils (the “Company”), a newly established Towerco and Telecom Energy Service Company (“TESCO”) in the Philippines. CREI Phils is a wholly-owned subsidiary of global telecom services group Two Thirty Three Holdings SAL (the “Group”). CREI’s main activities include providing sustainable energy and connectivity to Mobile Network Operators (MNOs) and rural communities in its markets of operation. One of the core business activity of CREI Phils is to develop, acquire, and operate telecommunication towers (Built-To-Suit towers or “BTS towers”) that can be shared by multiple network operators boosting efficiency and lowering the cost of ownership. CREI develops BTS towers through an integrated approach by contracting the group company (iEngineering) for Engineering, Procurement, Construction (EPC) and Operations & Maintenance (O&M) services.  The proceeds from the proposed transaction will fund the construction of BTS   towers to meet the expansion requirements of the MNOs in Philippines (the “Project”). Twenty percent of the total number of towers envisaged to be financed from IFC’s use of proceeds are either under construction or started operations.