The telecommunication services provider said the new
committed facility consists of a combination of a revolving credit facility and
term loans with tenor of up to 4 years. The facility will be used to partially
refinance the group's EUR750 million denominated bond due next month.
"The new loan facility further strengthens the core
liquidity of the group," Airtel Africa commented.
"It also has prepayment flexibilities that will allow
the group to optimise the efficiency of its capital structure with the free
cash flows and cash receipts anticipated over the next 12 months."
Airtel Africa said banks which participated in the facility
include Bank of America, BNP Paribas, Citibank, HSBC, JP Morgan, Standard
Chartered Bank and two Indian relationship banks, Axis Bank and Kotak Mahindra
Bank.
Airtel Africa is based in London and operates air in 14
African countries,
Shares in Airtel were trading 1.1% higher at 72.15 pence in
London on Wednesday. The wider FTSE 250 index was up 0.2%.
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