IHS Holding to tap capital market for USD800m to expand African operations
UK registered IHS Holding, which was founded in 2001 and is today one of Africa’s leading mobile infrastructure companies with telecommunications infrastructure in five countries, is planning to tap the international debt market to raise loans totalling USD800 million to continue its expansion.
Agence Ecofin reports that as part of the plan, IHS will from tomorrow begin talks in London with banks to secure the funding. It is understood that INT Towers, a joint venture between IHS and South Africa’s MTN Group, and IHS Holding itself, have approached banking groups Citi Bank and Standard Chartered Bank to coordinate obtaining multiple syndicated loans which will mobilise, on the one hand, USD560 million and, secondly, facilities for an amount equivalent to USD240 million.
Source: Telegeography 12 January 2015