RMB acted as Mandated Lead Arranger & Bookrunner for IHS Holdings (IHS Towers) $600 million or R10.2 billion syndicated term loan 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.
IHS Towers has nearly 40,000 towers across its 11 markets and a strong track record of delivering growth.
“RMB is proud to facilitate strategic investments that have a powerful economic impact,” Conny Konopi, Debt & Trade Solutions Transactor says,.
“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 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.
“RMB won this mandate by providing advice on transaction structuring and the best route to market,” Miranda Abraham, Co-Head of Loan Capital Market Solutions, said.
“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.
“As a provider of communications infrastructure on a countrywide basis across multiple countries, IHS Towers delivers a critical service in enabling mobile connectivity,” Onke Mkiva, Co-Head Debt & Trade Solutions Africa, said.
“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.”
