LONDON–(BUSINESS WIRE)–IHS Holding Limited (NYSE: IHS) (“IHS Towers”), one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, entered into a new $600 million three-year bullet-term loan on October 28, 2022, of which $370 million is expected to be drawn down. The terms of the loan carry an interest rate of 3.75% plus three-month term SOFR and CAS.
The majority of the proceeds from this initial utilization are expected to be used to repay the $280 million bridge facility that is due to mature in February 2023 and the $76 million US$ tranche of IHS Towers’ Nigerian credit facility that is amortizing and due to mature in September 2024. The remaining proceeds will initially be left undrawn and can be used for general corporate purposes. The financing is currently leverage neutral to IHS Towers.
The Bookrunner Initial Mandated Lead Arrangers of this transaction were Absa, Citi, Rand Merchant Bank and Standard Chartered Bank.
In September 2022, IHS Towers also successfully extended the termination date of its $270 million revolving credit facility, for a period of two years after its original termination date, to March 30, 2025. The commitments available under this facility currently remain undrawn.
About IHS Towers: IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count and is the largest independent multinational towerco solely focused on the emerging markets. The Company has nearly 40,000 towers across its 11 markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Kuwait, Nigeria, Peru, Rwanda, South Africa and Zambia. For more information, please email: communications@ihstowers.com or visit: www.ihstowers.com
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecast,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. You should read this press release and the documents that we reference in this press release with the understanding that our actual future results, performance and achievements may be materially different from what we expect. Further information on such assumptions, risks and uncertainties is available in our filings with the US Securities and Exchange Commission, including our annual report on Form 20-F/A. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.
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FGS Global
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