Airtel Africa PLC Signing of $500m loan facility (0938W)
April 21 2021 - 2:00AM
UK Regulatory
TIDMAAF
RNS Number : 0938W
Airtel Africa PLC
21 April 2021
Airtel Africa plc
("Airtel Africa", or the "Group ")
Signing of $500m loan facility
London and Lagos, 21 April 2021: Airtel Africa, a leading
provider of telecommunications and mobile money services, with a
presence in 14 countries across Africa, today announces the
successful signing of a new $500m loan facility with a group of
relationship banks.
The new committed facility consists of a combination of a
revolving credit facility and term loans with tenor of up to 4
years. The facility will be used to partially refinance the Group's
EUR750m Euro denominated bond (c.$880m) due 20 May 2021. The
balance of the Euro denominated bond will be repaid with existing
Group cash to reduce gross debt and associated interest costs.
The new loan facility further strengthens the core liquidity of
the Group. It also has prepayment flexibilities that will allow the
Group to optimise the efficiency of its capital structure with the
free cash flows and cash receipts anticipated over the next 12
months following the recent announcements related to tower sales
and mobile money minority investments.
The banks which participated in the facility include a diverse
group of existing global relationship banks, Bank of America, BNP
Paribas, Citibank, HSBC, J.P. Morgan, Standard Chartered Bank and
two Indian relationship banks, Axis Bank and Kotak Mahindra
Bank.
-ENDS-
Enquiries
Airtel Africa - Investor Relations
Pier Falcione +44 7446 858 280
Morten Singleton +44 7464 830 011
Investor.relations@africa.airtel.com +44 207 493 9315
Hudson Sandler
Nick Lyon
Bertie Berger
airtelafrica@hudsonsandler.com +44 207 796 4133
About Airtel Africa (LSE: AAF)
Airtel Africa is a leading provider of telecommunications and
mobile money services, with a presence in 14 countries in Africa,
primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications
solutions to its subscribers, including mobile voice and data
services as well as mobile money services, both nationally and
internationally.
The Group aims to continue providing a simple and intuitive
customer experience through streamlined customer journeys.
For more information visit www.airtel.africa
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END
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