The thinking behind Helios Towers Nigeria’s successful bond issuance
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The thinking behind Helios Towers Nigeria’s successful bond issuance


An exclusive interview with HTN CFO Abulime Ehiagwina

Towercos in other markets, notably Asia, have frequently utilised the bond market to raise substantial capital. Helios Towers Nigeria (HTN) recently completed the first bond issuance by an African towerco. The successful bond issuance was three times oversubscribed, reflecting growing investor confidence in the application of the independent towerco business model to Africa, and enthusiasm for opportunities in the lucrative Nigerian telecom sector. To learn about the thinking behind HTN’s current capital structure, and the implications of the current wave of sale and leasebacks in Nigeria, TowerXchange spoke to HTN’s CFO Abulime Ehiagwina.

TowerXchange: Congratulations on the successful issuance of Africa’s first high yield bond issue - how was it received?

Abhulime Ehiagwina, Chief Financial Officer, Helios Towers Nigeria:

Our successful Bond issuance, which was oversubscribed, reflects the strength of Helios Towers Nigeria (HTN) as a pioneer and pace setter in the African Tower industry.


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