Dialog 2021

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 Dialog Axiata Plc (“Dialog”) is the largest Quad-Play Connectivity provider in Sri Lanka (https://www.dialog.lk/) and is 83% owned by the Axiata Group Berhad (“Axiata”). The proposed investment is a US$150 million loan to Dialog for refinancing existing loans and to support the company’s capex program, including 4G roll-out, which is mainly putting new equipment on existing and future sites, fiber roll-out, radio and core network upgrades, software, IT Network expansions, and Spectrum expansion (the “Project”). This is an IFC repeat investment in Dialog Axiata; the previous investment (# 25747) was in 2007 and closed in 2018.Dialog currently has around 4000 telecom towers, out of which around 40 percent (~1600) are shared towers owned by other operators. The company has plans for additional 300-400 towers which are still in planning stage (either directly or preferably sharing existing towers of other operators). The new investment does not include any new submarine cable construction or extension.Dialog has multiple subsidiaries, including Dialog Network Services (DNS), which provides Dialog with services related to telecom network development, upgrades, operations, and maintenance.