Ooredoo Myanmar

completed

Ooredoo Myanmar is a wholly owned subsidiary of Ooredoo QSC, a Qatar-based company engaged in the provision of domestic and international telecommunication services in Qatar, Asia and Middle East and North Africa region. IFC is seeking to provide debt financing of up to $150 million to Ooredoo Myanmar. The IFC loan will contribute to financing (i) the rollout of the company’s national 3G Mobile Network in Myanmar; (ii) license payment; and (iii) operating expenses. Ooredoo received its 15 year, renewable licenin February 2014 from the Ministry of Communications and Information Technology. The Ooredoo licenses consist of; a Spectrum License for the assignment of Mobile Frequencies and a National Telecommunications License. Ooredoo launched its 3G mobile network in August 2014 with coverage in 68 cities and towns, including Yangon, Nay Pyi Taw and Mandalay, covering some 7.8M people. The company primarily leases space on telecommunications towers that are built, owned and operated by independent tower companies at locations specified by Ooredoo. The installation and testing of Ooredoo’s telecom equipment and on-site generators is undertaken by contracted radio access network vendors. Ooredoo’s telecommunications equipment and generators are maintained by contracted service providers.Ooredoo operates two data center warehouses in leased premises in Yangon and Mandalay, as well as offices and shops in Yangon, Mandalay, Nay Pyi Taw and other towns and cities across the coverage area. As of February, 2015 Ooredoo was the anchor tenant for approximately 1,400 telecommunications towers in operation in Myanmar, mostly situated in highly populated areas including Yangon, Mandalay and Nay Pyi Taw and along major roads networks. These telecommunications towers were installed over the 12 month period to February 2015, forming a part of the initial order Ooredoo has placed with two tower companies for the roll-out of an initial 2,500 telecommunications tower locations.