Helios Towers is a telecommunications infrastructure provider that operates across Africa. With towers at more than 14,000 sites, they provide service to more than 144 million people.
Among the nine nations in which it conducts business are Tanzania, Ghana, the Republic of Congo (Congo Brazzaville), South Africa, Senegal, Madagascar, and Malawi.
The bond offering was three times oversubscribed, according to Manjit Dhillon, Chief Financial Officer of the telecom infrastructure company. As part of the refinancing, certain current facilities will be repaid, and the average loan maturity will be extended by two years.
“This successful refinancing reflects the company’s track record and market diversification since our last bond offering, and expected cash flow generation through to 2026,” said Dhillon.
Chris Chijiutomi, Managing Director and Head of Africa at BII, said the firm is pleased to back Helios Towers’ public bond issuance as an anchor investor and to be able to mobilize international commercial capital.
According to Chijiutomi, the action will enhance information and communications services and help allocate funding to the areas that most need them, resulting in more inclusive economic growth.
Although this is BII’s second LSE-listed public bond offering, it recently entered into a $30 million financing deal with Tanzanian telecommunications infrastructure company TowerCo of Africa (TOA Tanzania) to support the latter’s business expansion. With the money, TOA Tanzania also plans to construct 200 new telecom locations.
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