IHS Towers raises USD 2.6 bln for expansion

News Wireless Africa 4 NOV 2014
IHS Towers raises USD 2.6 bln for expansion
African towers operator IHS Holding has signed agreements for a capital increase of USD 2.6 billion, comprising equity of USD 2 billion and a loan facility of USD 600 million, making it the largest such deal in Africa since 2007. The new funding will be applied to acquisitions, which have more than doubled the size of IHS' tower portfolio in the past 12 months, and also further new site build programmes across the IHS footprint. The funds will be used to continue the roll-out of efficient power technologies and operational management solutions including solar systems and high efficiency generator units. The USD 2 billion investment was secured from existing and new shareholders. IHS has now raised a total of USD 4.5 billion since 2012 and deployed the funds in Nigeria, Cameroon, the Ivory Coast, Zambia and Rwanda. 

Categories:

Mobile

Companies:

IHS

Regions:

Africa

Tags:

Network equipment, Network operations services, Wireless, Wholesale, Financial funding

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