RMB (www.RMB.co.za) acted as Mandated Lead Arranger & Bookrunner for IHS Holding Limited’s (NYSE: IHS) (“IHS Towers”) $600 million syndicated term loan facility. RMB was one of the lead banks on the transaction and applied its in-country expertise and global market knowledge in the structuring of this facility.
IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, and is the largest independent multinational towerco solely focused on the emerging markets. The Company has nearly 40,000 towers across its 11 markets and a strong track record of delivering growth.
Conny Konopi, Debt & Trade Solutions Transactor says, “RMB is proud to facilitate strategic investments that have a powerful economic impact. IHS Towers focuses exclusively on emerging markets and with the right funding, we hope to ensure its continued growth and contribution of communications infrastructure in sub-Saharan Africa and other key regions of focus.”
The initial proceeds of the $600 million were used to repay a $280 million bridge facility that was due to mature in February 2023 and a $76 million USD tranche of IHS’ Nigerian credit facility that was amortizing and was due to mature in September 2024. The remaining proceeds will be initially left undrawn and can be used for general corporate purposes.
Miranda Abraham, Co-Head of Loan Capital Market Solutions adds, “RMB won this mandate by providing advice on transaction structuring and the best route to market. We value IHS Towers as a strategic partner and the opportunity to support them across various initiatives and business requirements.”
As Mandated Lead Arranger and Bookrunner, RMB was instrumental in delivering a successful transaction for IHS Towers during a period of macroeconomic uncertainty.
Onke Mkiva, Co-Head Debt & Trade Solutions Africa concludes, “As a provider of communications infrastructure on a countrywide basis across multiple countries, IHS Towers delivers a critical service in enabling mobile connectivity. At RMB, we are proud to leverage our global expertise, innovation and ingenuity to structure a transaction that has enabled the business to refinance existing facilities at tight pricing levels. Furthermore, the company was able to achieve the desired quantum within a short timeframe, less than two months, from deal launch.”
Distributed by APO Group on behalf of Rand Merchant Bank.
