February 23, 2021 | Alan Burkitt-Gray

Liquid Telecom will raise US $ 820 million in bond and term loans to refinance the group’s existing debt and support its growth strategy.

Already, the London-based company, which operates fiber-optic networks across Africa, has received a significant portion of this committed money from the Emerging Africa Infrastructure Fund (EAIF), which is part of the Private Infrastructure Development Group (PIDG ) and other development banks.

Liquid said, “The funds from the new financing are intended to support Liquid Telecom as it continues to develop and expand its network capabilities, as well as its digital and technology solutions offerings across Africa. “

He added: “The new financing package is also expected to help deliver long-term benefits to Liquid Telecom’s growing number of businesses, operators and retail customers, which currently total more than 143,000 customers in 13 countries of the world. ‘surgery.

EAIF and its associates have committed to place purchase orders up to a total of $ 178 million in the offer. The EAIF said it was acting through its agent Ninety One SA, along with the International Finance Corporation (IFC) and DEG-Deutsche Investitions-und Entwicklungsgesellschaft.

IFC is part of the Washington-based World Bank group. DEG, based in Cologne, is a German development finance institution that is part of the state-owned KfW, one of the world’s largest development banks.

Sumit Kanodia, Chief Investment Officer of EAIF Manager Ninety One said: “The growth of Africa’s digital infrastructure is a cornerstone to recovering the continent from the global economic devastation of Covid.”

He noted that “EAIF has supported the growth of the digital and telecommunications sector in Africa since 2003,” including supporting submarine and terrestrial fiber projects, as well as towers and satellites. Liquid Telecom “is a dynamic and successful company that we are happy to support,” he said.