Airtel Africa's subsidiary, Bharti Airtel International (Netherlands) B.V., has successfully completed a $550 million bond repayment, due this month, aiming to reduce foreign currency debt. The company's notice to the Nigerian Exchange Limited, disclosed that the repayment was fully funded from cash reserves at the holding company (HoldCo), continuing its…
Airtel Africa PLC - Africa-focused telecommunications firm - Confirms that subsidiary Bharti Airtel International BV has fully repaid a USD550 million bond in 5.35% guaranteed senior notes maturing.
Stock prices in London closed higher on Monday, with investors optimistic that interest rate cuts might be around the corner.
The FTSE 100 index closed up 3.94 points at 8,424.20. The FTSE 250 ended.
During Airtel Africas IPO back in June 2019, the (Airtel Africa) Group had $2,719 million of external debt at the HoldCo level, which had resulted in significant exposure to currency fluctuations and the reliance on upstreaming funds to cover both interest costs and the principal repayment.