Africa's Liquid Telecom raises $700m in bond and term-loan issue

Africa’s Liquid Telecom raises $700m in bond and term-loan issue

Liquid Telecom, an unlisted pan-African telecoms group, has raised $700m in a bond and term-loan issue that will help it refinance debt and provide a war chest for further acquisitions.

The company operates in 13 African countries including South Africa, its biggest market, supplying fibre optic and satellite services for customers such as MTN, Bharti Airtel and Vodafone.

The $550m 5-year bond was priced at 8.5 per cent, though investors had pushed for a higher yield amid a sharp weakening of emerging bond markets on Thursday, when the issue was priced.

Read more: Africa’s Liquid Telecom raises $700m in bond and term-loan issue

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