Zimbabwe News and Internet Radio

Liquid Telecom secures US$840m

By Oliver Kazunga

Pan-African telecommunications group Liquid Telecoms says it has successfully arranged a bond and term loan refinancing facility to the tune of US$840 million for the group’s growth strategy and existing debt.

Liquid Telecom
Liquid Telecom

Liquid Telecom is a leading telecommunications firm in Africa in which Zimbabwean businessman, Mr Strive Masiyiwa’s Econet Global, owns major shares, supported by its Joint Global Bookrunners.

Liquid Telecom announced the successful pricing of the bond that was launched a few weeks ago, attracting in excess of 230 investor orders including anchor orders from the International Finance Corporation and Emerging Africa Infrastructure Fund.

“The successful placing of US$840 million included US$620 million in the international bond markets as well as a US$220 million equivalent South African Rand term loan,” said Liquid in a latest statement.

“The order book, which totalled US$3,2 billion, was more than five times oversubscribed helping to drive a coupon rate of 5,5 percent compared to the group’s 8,5 percent debut bond coupon in July 2017,” said the firm.

The new financing package is expected to help deliver long-term benefits to Liquid Telecom’s growing number of enterprises, carrier and retail customers, which presently total over 143 000 customers across 13 countries of operation.

Liquid Telecom serves businesses of all sizes through a differentiated, comprehensive and expanding digital solutions service offering. The Chronicle

Comments