Private investor targets US$50 million of Liquid Telecoms bond issue

Business Reporter

A PRIVATE infrastructure development group, Emerging Africa Infrastructure Fund (EAIF), says it is committed to buying up to US$50 million of Liquid Telecommunications US$600 million bond issue.

Liquid Telecom, is a Pan-African firm that has a footprint across 13 countries primarily in eastern and southern Africa including Zimbabwe where it serves mobile operators, carriers, enterprise, media and content companies with high-speed connectivity.

Of late, the firm has built Africa’s largest independent fibre network of over 73 000 kilometres.

According to EAIF, a wholly-owned subsidiary of Liquid Telecom Holdings Limited, Liquid Telecommunications Financing plc, would be the issuer of the bond, which was launched yesterday.

“The bond (new note offering) aims to raise US$600 million to be used to refinance existing debt and for corporate purposes.

“EAIF, acting through its agent Ninety-One SA (Pty) Ltd, along with The International Finance Corporation (IFC) and DEG-Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG), have committed to place orders to purchase up to an aggregate US$178 million in the New Note Offering,” it said.

The company noted that growing Africa’s digital infrastructure is a key foundation stone in recovering the continent from the global economic devastation of Covid-19.

The company serves telco and digital industry customers and commercial, public sector and domestic users with a broad range of connectivity and hosting cloud-based products, including Microsoft 365 and Microsoft Azure.