African telecommunications group Liquid Telecoms announces that it has successfully raised more than $ 840 million through a bond and term refinancing facility launched a few days ago.
The deal of $ 600 million senior secured bonds and $ 220 million South African rand-denominated secured term loans has attracted more than 230 investor orders, including anchor orders the International Finance Corporation (IFC) and the Emerging Africa Infrastructure Fund.
“The order book, which totaled US $ 3.2 billion, was oversubscribed more than five times, which helped generate a coupon rate of 5.5% compared to the group’s starting coupon of 8, 5% in July 2017, ”Liquid Telecom said in a press release.
Note that the rating agency Fitch Ratings Inc. assigned the transaction the expected rating of “B + (EXP)” / RR4. The default long-term issuer rating of Liquiid Telecommunications Holdings is assigned to B + with a stable outlook. Refinancing improves the maturity profile, with most of the new debt due in 2026, according to Fitch.
journaliste économique, titulaire d’un Master II en Communication et Journalisme de l’Institut Supérieur des Sciences de l’Information et de la Communication de Dakar (ISSIC). Grande amatrice de lecture et de musique. Féministe dans l’âme et passionnée de mode.