IHS Towers raises USD 522 mln to fund expansion

News Wireless Africa 24 JUL 2013
IHS Towers raises USD 522 mln to fund expansion
African mobile infrastructure company IHS Towers has secured USD 522 million of debt and equity, led by new and existing lenders and shareholders. The transaction brings the total financing raised by IHS Towers to over USD 1 billion. The transaction also marks the addition of one of Asia's premier sovereign wealth funds to IHS' shareholder base. The other first-time investor in Africa, Wendel, completed an investment into the company earlier in the year and participated in the round. IHS will use the proceeds to finance the construction of more than 1,000 build-to-suit (BTS) towers in Nigeria, Cote d'Ivoire and Cameroon, to invest in solar and energy efficiency solutions, and to fund further expansion into new markets.

Categories:

Mobile

Companies:

IHS Towers

Regions:

Africa

Tags:

Network equipment, Network operations services, Wholesale, Financial funding

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