Helios Towers PLC New Facilities and tender offer of Senior Notes (4388M)
14 September 2023 - 4:05PM
UK Regulatory
TIDMHTWS
RNS Number : 4388M
Helios Towers PLC
14 September 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Helios Towers plc
Helios Towers announces New Facilities and capped US$400m tender
offer of the Senior Notes
London, 14 September 2023: Helios Towers plc ("Helios Towers",
the "Company"), the independent telecommunications infrastructure
company, is pleased to announce that it has signed a new five-year
up to US$600m term loan facilities agreement ("New TL") and up to
US$120m revolving credit facility agreement ("New RCF") (together
the "New Facilities"), with the New Facilities ranking pari passu
with the 7.000% Senior Notes due 2025 issued by HTA Group, Ltd (the
"Senior Notes").
The proceeds of the New TL will be used to (a) fund a cash
tender offer for up to US$400m of the Senior Notes, which the
Company announced today, and is subject to the conditions set forth
in the offer to purchase dated 14 September 2023, (b) repay the
US$65m drawn on the existing term loan facility dated 8 June 2020
("2020 TL"), with cancellation of the remaining undrawn
commitments, together with payment of associated fees, costs and
expenses and (c) fund general corporate purposes. The New RCF will
replace the Company's existing and undrawn US$70m RCF dated 8 June
2020 ("2020 RCF") in full.
The New Facilities feature a 1ppt tighter opening margin (1)
compared to the 2020 TL and 2020 RCF being refinanced, reflecting
the diversification, increased hard-currency earnings and scale
achieved by the Company over the past three years. The New TL also
extends the average remaining life of the Company's debt, supports
proactively addressing the 2025 Senior Notes maturity and
represents an expansion of Helios Towers' banking group.
(1) The New TL margin features a leverage ratchet, allowing the
margin to be adjusted up or down depending on the Company's
reported net leverage. The 1ppt reduction from the 2020 TL and 2020
RCF is calculated using Company estimated net leverage for Q3 23,
with the margin expected to further reduce as the Company continues
its focus on deleveraging.
Investor Relations
Chris Baker-Sams - Head of Strategic Finance and Investor
Relations
investorrelations@heliostowers.com
+44 (0)752 310 1475
Media relations
Edward Bridges / Stephanie Ellis - FTI Consulting LLP
+44 (0)20 3727 1000
For the purposes of MAR, the person responsible for making this
announcement is Paul Barrett, General Counsel and Company
Secretary.
About Helios Towers
-- Helios Towers is a leading independent telecommunications
infrastructure company, having established one of the most
extensive tower portfolios across Africa and the Middle East. It
builds, owns and operates telecom passive infrastructure, providing
services to mobile network operators.
-- Helios Towers owns and operates over 13,800 telecommunication
tower sites in nine countries across Africa and the Middle
East.
-- Helios Towers pioneered the model in Africa of buying towers
that were held by single operators and providing services utilising
the tower infrastructure to the seller and other operators. This
allows wireless operators to outsource non-core tower-related
activities, enabling them to focus their capital and managerial
resources on providing higher quality services more
cost-effectively.
For more information about Helios Towers, please visit: https://
www.heliostowers.com/investors/
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END
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