IHS settles $800 million high yield corporate bond

IHS Netherlands Holdco B.V., which owns 100 percent of IHS Nigeria Limited (“IHS Nigeria”) the Nigerian subsidiary of IHS Holding Limited (“IHS”), the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, has announced the settlement of an US$800 million high-yield corporate bond issue. The bond is listed on the Irish Stock Exchange.

Issam Darwish, the Executive Vice Chairman and Group CEO of IHS, said in a statement: “We are delighted to have completed the largest high yield corporate bond ever issued out of Africa. This is a major milestone for us, refinancing IHS Nigeria and IHS Towers NG Limited’s (formerly known as Helios Towers Nigeria Limited) existing debt and underwriting the build programme of new towers. The quality investor demand is a testament to IHS’s strong business fundamentals.”

The bond incorporates  the tender of the outstanding 8.375 percent US$250m bond at IHS Towers Netherlands FinCo NG B.V. (formerly known as Helios Towers Finance Netherlands B.V.) which was acquired through the Helios Towers Nigeria Limited acquisition that completed on 10 June 2016.

Over 95 percent of IHS’s employees are Africans, according to the statement and IHS employs close to 40,000 people directly and indirectly through its subcontractors.