Airtel Africa PLC Senior Notes Repayment (9219D)
08 March 2022 - 06:00PM
UK Regulatory
TIDMAAF
RNS Number : 9219D
Airtel Africa PLC
08 March 2022
Airtel Africa plc
('Airtel Africa', or the 'Group')
Senior Notes Repayment
London and Lagos, 8 March 2022: Further to the announcement of 4
February 2022, Airtel Africa, a leading provider of
telecommunications and mobile money services, with a presence in 14
countries across Africa, today confirms that it has completed the
early repayment of its c.$505m 5.125% Guaranteed Senior Notes,
originally due in March 2023, using cash balances available at
Group level.
Settlement includes all outstanding accrued interest up to the
Redemption date of 7 March 2022. One-off costs of c.$17.6m for the
applicable premium will be recorded within finance costs, while the
Group will save an aggregate of c.$26.5m future interest payments
from early redemption.
Since the time of the IPO in June 2019, Airtel Africa has
successfully pursued a strategy of strengthening its balance sheet
through both deleveraging. and reducing US dollar debt exposure.
Over this period the Group has reduced its USD HoldCo debt by
c.$1.7bn and improved its leverage ratio to 1.4x net debt to
underlying EBITDA at December 2021. Following this early repayment
of Senior Notes, the Group has $1bn of bonds remaining at HoldCo
level, due in May 2024.
-ENDS-
Enquiries
Airtel Africa - Investor Relations
Pier Falcione +44 7446 858 280
Morten Singleton +44 7464 830 011
Investor.relations@africa.airtel.com +44 207 493 9315
Hudson Sandler
Nick Lyon
Bertie Berger
airtelafrica@hudsonsandler.com +44 207 796 4133
About Airtel Africa
Airtel Africa is a leading provider of telecommunications and
mobile money services, with a presence in 14 countries in Africa,
primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications
solutions to its subscribers, including mobile voice and data
services as well as mobile money services both nationally and
internationally.
The Group aims to continue providing a simple and intuitive
customer experience through streamlined customer journeys.
www.airtel.africa
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END
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