IHS Holding Limited announced on November 12, 2024, its intention to launch a dual-tranche 5.5NC2 and 7NC3 Reg S / 144A USD benchmark Senior Notes offering. The company has mandated Citi, Goldman Sachs Bank Europe SE, Rand Merchant Bank, and Standard Chartered Bank as Joint Global Coordinators and Joint Bookrunners for this offering. This move aims to proactively manage and extend the overall debt maturity profile of the Group.
International Finance Corporation (IFC), Emerging Africa & Asia Infrastructure Fund Limited (EAAIF), and The Société de Promotion et de Participation pour la Coopération Économique S.A. (PROPARCO) have confirmed their intention to place orders for an aggregate principal amount of up to $170 million in the New Notes Offering. This institutional support underscores confidence in IHS Towers' financial strategy and market position. The offering is subject to market conditions and the final terms and conditions.
Concurrently, IHS Towers announced a tender offer to buy back up to $250 million of its 5.625% Senior Notes due 2026 and a tender offer and concurrent consent solicitation for up to $475 million of its 8.000% Senior Notes due 2027. These tender offers are conditional on the successful completion of the new issuance. Remaining proceeds from the new issuance will be used to repay the group bilateral loan, cover transaction fees and expenses, and for general corporate purposes, further strengthening the balance sheet.
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