Airtel Africa PLC Signing of $500m loan facility (0938W)

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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                             [phone] 
  Morten Singleton                          [phone] 
  [e-mail]      [phone] 
 
 Hudson Sandler 
  Nick Lyon 
  Bertie Berger 
  [e-mail]            [phone] 
 

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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April 21, 2021 02:00 ET (06:00 GMT)