Liquid Telecom Ltd., majority owned by African telecoms tycoon Strive Masiyiwa, raised $840 million in a bond and loans to refinance debt and expand further into Africa.
Strive Masiyiwa. Craig Warga/Bloomberg
Liquid Telecom, controlled by African telecommunications tycoon Strive Masiyiwa, raised US$840-million (R12.4-billion) in a bond sale to refinance debt and expand further into Africa.
The sale was conducted by joint bookrunners JPMorgan Chase & Co, Standard Chartered and Standard Bank Group, Liquid chief financial officer Kate Hennessy said on Thursday by e-mail. The amount raised includes a $100-million investment by the International Finance Corp.
The offering was 5.5 times oversubscribed, Hennessy said.
The level of interest from high-quality investors has been unprecedented for an African issuer and reflects an excess of 220 investor orders
“The level of interest from high-quality investors has been unprecedented for an African issuer and reflects an excess of 220 investor orders,” she said. “The order book shows the confidence that investors have in the future growth strategy for the group.”
Liquid Telecom, majority owned by telecoms tycoon Strive Masiyiwa, raised $840 million in a bond sale to refinance debt and expand further into Africa.
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