Phoenix Tower B4

completed

Having recently acquired a competitor in Brazil, K2-Tower Sociedade Anônima (“K2-Tower”), a company that specializes in the deployment of small cell infrastructure, Phoenix Tower Participações S.A. (“PTB” or the “Company”) plans to  “future-proof” its operations to meet the coverage densification requirements for Fourth Generation and future generations through small cells as well as build out new Built-to-Suit towers to meet the network expansion requirements of mobile network operators in Brazil.  For this purpose, IFC is considering the provision of a new loan of about $20 million equivalent to PTB.   IFC has an existing loan to PTB of $40 million equivalent.  IFC’s existing investments in PTB helped to finance the company’s previous plans to build new telecommunication towers in Brazil, with three previous Environmental and Social Review Summaries (ESRSs) at https://disclosures.ifc.org/#/projectDetail/ESRS/40763, at https://disclosures.ifc.org/#/projectDetail/ESRS/39576, and at https://disclosures.ifc.org/#/projectDetail/ESRS/36722.  Under IFC’s existing investments in PTB, PTB’s record of E&S performance has been satisfactory.