IFC proposes $27.7m debt investment in Philippine tower firm CREI

IFC/World Bank HQ. Photo: IFC

International Finance Corporation (IFC), a member of the World Bank Group, has proposed a $27.7-million senior secured loan to CREI Philippines, a local independent tower company, according to a disclosure.

CREI, a wholly-owned subsidiary of global telecom services group Two Thirty Three Holdings, seeks to build more towers in the Philippines and is looking at raising about $110.7 million to finance the project.

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