DRC Helios Towers secures US$105 million funding
Helios Towers DRC, the Democratic Republic of Congo (DRC) subsidiary of Helios Towers Africa Ltd, has announced the successful completion of a US$105 million upsizing of its syndicated term loan facility led by The Standard Bank of South Africa Limited as Initial Mandated Lead Arranger and the German development finance institution DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH as DFI Arranger.
- The funding facility will partly finance both the acquisition of Bharti Airtel’s tower portfolio and fund the organic growth and operational excellence program of HTD across the country;
- HTD’s portfolio in DRC includes now c.1,800 towers with a growing pipeline of new builds for multiple operators;
In addition to funding portfolio expansion the facility will be used to invest in power technologies as HTD invests to reduce its reliance on diesel fuel.
Since 2010, HTD has pioneered the independent TowerCo model in DRC through commercialising the ex-Tigo towers and building out further towers to which it will add c.950 towers as a result of the Bharti Airtel tower transaction. This acquisition will ensure HTD’s leading position in the DRC, one of the fastest growing telecommunications markets in Africa. The continued support of HTD’s lending syndicate formed from both international financial institutions and international development agencies highlights the strong willingness to invest in African telecoms infrastructure and is testament to the achievements of the business over the last five years.
HTD will continue to focus on driving infrastructure sharing, delivering customer service excellence and expanding their network to keep pace with market demands as they look to enable the delivery of next generation telecommunication services. Through this focus, HTD will continue to allow their customers to preserve capital and reduce their operating costs whilst benefiting the country as a whole by preventing the proliferation of duplicate towers through infrastructure sharing.
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Source: ITNews Africa