IHS Holding Limited announced on November 14, 2024, the successful pricing of its dual-tranche Senior Notes offering. The offering includes $550 million of 7.875% Senior Notes due 2030, priced at a yield of 8.150% and an issue price of 98.800%. Additionally, $650 million of 8.250% Senior Notes due 2031 were priced at a yield of 8.500% and an issue price of 98.701%.
Interest on both tranches of notes will accrue semi-annually in arrear. The settlement of this issuance is expected to occur on or around November 29, 2024, subject to customary closing conditions. These notes will be senior unsecured obligations of IHS Towers, guaranteed by certain other members of the Group.
The gross proceeds from this offering are intended to be used to buy back a portion of the Group's 2026 Notes and 2027 Notes, repay in full the Group bilateral loan, cover fees and expenses related to the offering and associated transactions, and for general corporate purposes. This strategic refinancing aims to optimize the company's debt structure and enhance its financial flexibility.
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