A roundup of tower news across SSA and MENA
Congo B, DRC, Ghana, Tanzania: Helios issue $600mn corporate bond
On 8 March 2017, Helios Towers Africa announced its maiden corporate bond. The $600mn bond, paying a 9.125% coupon with a 2022 maturity date, was three times oversubscribed and was assigned a B2 rating by Moody’s. At the same time, Moody’s assigned a B2 Corporate Family Rating to Helios Towers Africa Ltd, the towerco’s first credit rating. The majority of the proceeds will be used to refinance existing debt, with US$31mn being used to fund the acquisition of remaining sites not yet closed in the DRC, Congo Brazzaville and Tanzania.