Africa-focused tower operator IHS has secured US$130m from existing investors in the second and final tranche of its latest fundraising.
In March, the towerco signed US$490m equity and debt financing as it plans to expand into new and existing markets…
Africa-focused tower operator IHS has secured US$130m from existing investors in the second and final tranche of its latest fundraising.
In March, the towerco signed US$490m equity and debt financing as it plans to expand into new and existing markets on the African continent.
Around US$420m was provided by existing shareholders and new investors, which include UBS, IFC, Wendel, ECP, FMO, Investec, Goldman Sachs and AIIM.
Late last year, IHS agreed to buy 1,200 towers from MTN in Zambia and Rwanda for an estimated US$120m.
TelecomFinance reported previously that IHS is among the suitors for Bharti Airtel’s African towers. Other interested parties include Helios and Eaton.
Bharti’s portfolio on the continent has been valued at around US$1.8bn-US$2bn for 15,000 sites. Sources familiar with the matter indicated that the Indian operator is selling assets on a country-by-country basis across at least a dozen geographies.
In the past 12 months, IHS has raised around US$1.5bn. The towerco claims to own and manage more than 10,500 sites in Africa.
