Standard Bank Group secures US$85 million syndicated financing for Helios Towers Tanzania
6 December 2011
Standard Bank Group is pleased to announce the successful completion of a senior secured syndicated financing worth US$85million for Helios Towers Tanzania Ltd ("HTT"), a subsidiary of Helios Towers Africa Ltd ("HTA"), to finance the next phase of its network of telecommunications towers across Tanzania.
Stanbic Bank Tanzania Limited and Standard Bank of South Africa as Joint Initial Mandated Lead Arrangers;
Emerging Africa Infrastructure Fund as Mandated Lead Arranger;
Investec Bank as Mandated Lead Arranger;
National Micofinance Bank Plc as Mandated Lead Arranger;
Bank of Africa Tanzania Limited as Lead Arranger;
International Commercial Bank (Tanzania) Limited as Lead Arranger;
The financing attracted strong and broad-based interest from several local and international financial institutions. The lending syndicate demonstrated the ability of African banks to finance large and cross-border transactions and included the following institutions:
Standard Bank Plc acted as Sole Bookrunner and Facility Agent.
Tanzania, with more than 21 million mobile subscribers as of September 2011 is a top ten mobile market in Africa and one of the continent's fastest growing wireless markets; its current subscriber penetration is estimated to be 46% and is expected to grow to 66% by 2015. Tower sharing is a fast growing subset of the mobile telecommunications sector in Africa, bringing significant capital expenditure and operating cost savings for mobile operators that can be passed onto consumers who benefit from improved network quality and enhanced coverage.
Commenting, Charles Green, CEO for HTA, said
"HTA is delighted to complete this financing in Tanzania, which demonstrates our commitment to developing successful independent tower companies across the African continent. We thank Standard Bank for their continuous support - this is the second financing that Standard Bank has led for HTA, having been a joint Mandated Lead Arranger for US$40 million of senior secured term loan facilities to support HTA's expansion in Ghana. The facility in Tanzania will help us to deploy further tower sharing solutions across the country, benefiting both the population and the environment."
Nina Triantis, Standard Bank Group's Global Head of Telecoms and Media, added
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