The Rising Africa Infrastructure Fund (EAIF), a Non-public Infrastructure Growth Group (PIDG) (www.PIDG.org) firm, has dedicated to purchase as much as US$50,000,000 of a bond concern by Liquid Telecommunications, that’s being launched on Monday 22rd February 2020. The bond (“The New Observe Providing”) goals to lift US$600 million which can be used to refinance present debt and for company functions. The issuer can be Liquid Telecommunications Financing plc, a wholly-owned subsidiary of Liquid Telecommunications Holdings Restricted.
EAIF, appearing via its agent Ninety One SA (Pty) Ltd, together with The Worldwide Finance Company (IFC) and DEG-Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG), have dedicated to position orders to buy as much as an combination US$178mm within the New Observe Providing.
Liquid Telecommunications has constructed Africa’s largest impartial fibre community of over 73,000km. The corporate serves telco and digital business clients and industrial, public sector and home customers with a broad vary of connectivity, internet hosting and cloud based mostly merchandise, together with Microsoft 365 and Microsoft Azure.
Sumit Kanodia, an Funding Director at EAIF’s supervisor, Ninety One, says, “Rising Africa’s digital infrastructure is a key basis stone in recovering the continent from the worldwide financial devastation of Covid. EAIF has supported the expansion of Africa’s digital and telecommunications sector since 2003. We’ve got given assist to tasks together with marine and terrestrial fibre optics, communications towers and satellites which have introduced superior communications to Africa and had vital financial growth affect on many international locations. Liquid Telecommunications is a dynamic and profitable enterprise we’re happy to assist.”
EAIF’s assist for the Liquid Telecommunications bond concern is its fourth large-scale transaction in Africa’s digital and telecommunications sector previously 12 months. In 2020, EAIF supported bond points by Helios Towers plc and Sonatel, the Senegal-based regional digital and telecommunications enterprise. The bond points mobilised c$800 million in non-public capital invested in high-technology African enterprise. EAIF additionally loaned US$40 million to the West Indian Ocean Cable Co (WIOCC), as a part of WIOCC’s company growth programme.
Distributed by APO Group on behalf of Non-public Infrastructure Growth Group (PIDG).Media Contact:
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The Rising Africa Infrastructure Fund (www.EAIF.com) gives quite a lot of debt merchandise to infrastructure tasks promoted primarily by non-public sector companies in Africa and components of the Levant. The Fund helps create the infrastructure framework that’s important to sustained financial stability, enterprise confidence, job creation and poverty discount. It has to this point supported 75 accomplished infrastructure tasks throughout 9 sectors in over 20 African international locations. As of the tip of 2018 the Fund had invested US$20.082 billion. EAIF is a part of PIDG. EAIF was established and considerably funded by the governments of the UK, The Netherlands, Switzerland, and Sweden. It raises its debt capital from private and non-private sources, together with Allianz, the worldwide insurance coverage and monetary providers firm; Customary Chartered Financial institution; the African Growth Financial institution; the German growth finance establishment, KFW,and FMO, the Dutch growth financial institution. EAIF is managed by Ninety One.
About Liquid Telecom:
Liquid Telecommunications (www.LiquidTelecom.com) is a number one communications options supplier throughout 13 international locations primarily in Japanese, Southern and South Africa that serves cellular operators, carriers, enterprise, media and content material firms and retail clients with high-speed, dependable connectivity, internet hosting and co-location and digital providers. It has constructed Africa’s largest impartial fibre community, stretching greater than 73,000km.
The Non-public Infrastructure Growth Group (PIDG) (www.PIDG.org) is an revolutionary infrastructure growth and finance organisation which inspires and mobilises non-public funding in pioneering infrastructure within the frontier markets of sub-Saharan Africa and south and south-east Asia to advertise financial growth and fight poverty. PIDG delivers its ambition consistent with its values of alternative, accountability, security, integrity and affect. Since 2002, PIDG has supported 157 infrastructure tasks to monetary shut and offered 209 million folks with entry to new or improved infrastructure. PIDG is funded by six governments (the UK, the Netherlands, Switzerland, Australia, Sweden, Germany) and the IFC. PIDG TA can present technical help and capital grants to the PIDG firms to fulfill a spread of wants related to an infrastructure challenge’s life-cycle. PIDG TA also can present up-front viability hole funding grants to assist PIDG tasks that require concessional funding to make a challenge with robust growth affect financeable.
About Ninety One:
Ninety One (www.NinetyOne.com) is without doubt one of the largest third social gathering buyers in non-public fairness, credit score, public fairness and sovereign debt throughout the African continent. The Rising Africa Infrastructure Fund (EAIF) is managed by and absolutely built-in into Ninety One’s African funding platform. Ninety One manages your entire course of on behalf of the EAIF. It markets the Fund, seeks tasks, evaluates mortgage functions, together with due diligence, manages transaction administration and screens the mortgage portfolio. Since Could 2016, when it was awarded the administration mandate, Ninety One and its EAIF workforce have closed over 20 infrastructure transactions with a capital worth of USD 650m. The workforce additionally led EAIF’s final spherical of fundraising, elevating US$385 million, together with US$100 million from Allianz International Buyers and US$50 million from Customary Chartered, a long-standing lender to EAIF.
Ninety One is an impartial, lively world asset supervisor listed on the London and Johannesburg inventory exchanges. Established in South Africa in 1991, as Investec Asset Administration, the agency was a pioneer in rising markets in Africa. In 2020, nearly three a long time of natural development later, the agency de-merged from Investec Group and have become Ninety One. Right this moment, Ninety One gives distinctive, lively methods throughout equities, mounted revenue, multi-asset and different investments to establishments, advisors and particular person buyers world wide.