Airtel Africa PLC Settlement of Cash Tender Offer (7701R)

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RNS Number : 7701R

Airtel Africa PLC

08 July 2022

Airtel Africa plc

('Airtel Africa', or the 'Group')

Settlement of Cash Tender Offer in respect of Outstanding Senior Notes

London and Lagos, 8 July 2022: Further to our announcement of 22 June 2022, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today confirms the settlement of the previously announced cash tender offer to redeem up to $450m of the $1 billion of 5.35% Guaranteed Senior Notes due 2024 ('Notes') by its subsidiary, Bharti Airtel International (Netherlands) B.V., ('BAIN').

An aggregate principal amount of $450m of Notes have been accepted for purchase for a total of $462.6m. All Notes accepted for purchase have been cancelled ahead of their maturity in May 2024. The original cap on the redemption of $300m, as mentioned in the release of 22 June, was increased on 6 July 2022 as BAIN, in its sole discretion, decided to achieve a larger debt reduction through the use of cash resources.

This early redemption has been made out of the Group's cash reserves and is in line with our strategy of reduction of external foreign currency debt at Group level.

-ENDS-

Enquiries

 
 Airtel Africa - Investor Relations 
  Pier Falcione                             [phone] 
  Morten Singleton                          [phone] 
  [e-mail]      [phone] 
 
 Hudson Sandler 
  Nick Lyon 
  Emily Dillon 
  [e-mail]            [phone] 
 

About Airtel Africa

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.

www.airtel.africa

No offer or invitation to acquire or exchange any Notes is being made pursuant to this announcement. This announcement and any related documents do not constitute an offer to buy or the solicitation of an offer to sell securities in any circumstances or jurisdictions in which such offer or solicitation is unlawful.

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July 08, 2022 02:00 ET (06:00 GMT)