IHS Holding Limited announced on November 26, 2024, the early results of its tender offers for its 5.625% Senior Notes due 2026 and 8.000% Senior Notes due 2027. As of the Early Tender Deadline on November 25, 2024, the company increased the Series Maximum Acceptance Amount for the 2026 Notes from $250 million to $300 million, and for the 2027 Notes from $475 million to $523.985 million.
The Offeror has accepted for purchase all 2027 Notes validly tendered as of the Early Tender Deadline in full. For the 2026 Notes, all validly tendered notes up to the increased Series Maximum Acceptance Amount were accepted with a proration factor of 61.0117%. Holders of accepted 2026 Notes will receive $1,000 per $1,000 principal amount, while 2027 Notes holders will receive $1,000 per $1,000 principal amount plus accrued interest.
The Early Settlement Date is expected to be on November 29, 2024. Additionally, the 2027 Notes Issuer intends to publish a notice of optional redemption for $130.015 million in principal amount of 2027 Notes, with redemption expected on December 6, 2024. Required Consents for Proposed Amendments to the 2027 Notes indenture were also obtained, aligning covenants with the newly issued notes, which enhances the company's financial structure.
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