RMB (www.RMB.co.za) acted as the Mandated Lead Arranger & Bookrunner on IHS Holding Limited’s (NYSE: IHS) (“IHS Towers”) $600 million syndicated credit facility. RMB was one of the lead banks in the transaction and brought its country specific expertise and global market knowledge to the structuring of this facility.
IHS Towers is one of the world’s largest independent owners, operators and developers of shared communications infrastructure by tower count and the largest independent multinational tower company focused solely on emerging markets. The company has nearly 40,000 towers across its 11 markets and has a strong track record of delivering growth.
Conny Konopi, Debt & Trade Solutions Transactor, says: “RMB prides itself on facilitating strategic investments with strong economic impact. IHS Towers is solely focused on emerging markets and with the right funding we hope to ensure its continued growth and contribution to the communications infrastructure in sub-Saharan Africa and other key focus regions.”
The initial proceeds of the $600 million were used to repay a $280 million bridge facility, which was due to mature in February 2023, and a $76 million tranche of IHS’ Nigerian credit facility, which is scheduled to mature in February 2023 was amortized and was due to mature in September 2024. The rest of the proceeds initially remain unused and can be used for general corporate purposes.
Miranda Abraham, Co-Head of Loan Capital Market Solutions added, “RMB won this mandate by advising us on transaction structuring and the best route to market. We value IHS Towers as a strategic partner and the opportunity to support them on various initiatives and business needs.”
As Mandated Lead Arranger and Bookrunner, RMB was instrumental in executing a successful transaction for IHS Towers at a time of macroeconomic uncertainty.
Onke Mkiva, Co-Head Debt & Trade Solutions Africa, summarizes: “As a provider of communications infrastructure on a nationwide basis in multiple countries, IHS Towers delivers a critical service in enabling mobile connectivity. At RMB, we pride ourselves on using our global expertise, innovation and ingenuity to structure a transaction that enables the company to refinance existing facilities at tight price levels. In addition, the company was able to achieve the desired quantity within a short timeframe of less than two months from the start of the contract.”
Distributed by APO Group on behalf of Rand Merchant Bank.
Published by:
Rand Merchant Bank
Johannesburg, South Africa
(GMT+2)
Contact:
Kate Kelly I [email protected]
About RMB:
Rand Merchant Bank (RMB) is a leading African corporate and investment bank and part of one of the largest financial services groups (by market capitalization) in Africa – FirstRand Bank Limited. We offer our customers innovative consulting, financing, trading, corporate customer and capital investment solutions with added value.
We offer our customers innovative consulting, financing, trading, corporate customer and capital investment solutions with added value.
At RMB, we’re passionate about solving problems for our customers by asking the tough questions. We challenge accepted thinking. We analyze and look for solutions beyond the obvious. We think innovatively and turn challenges into opportunities. We call ourselves Solutionist Thinkers who rely on traditional values. Innovative ideas.
We are characterized by our ability to think differently, our collaborative spirit, our customer-oriented solutions and our conviction that great minds do not always have to think alike.
As the Corporate and Investment arm of FirstRand Bank Limited (which is 100% owned by FirstRand Limited), we have access to a network of retail banks in 25 African countries, including representative offices and branches in the UK, India and China.
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