Liquid Telecom secures $700m for group's growth

Liquid Telecom secures $700m for group's growth
Published: 13 July 2017 (191 Views)
PAN African telecommunications group, Liquid Telecom has secured a $700 million bond and term loan facility aimed at supporting the group's existing debt and growth strategy.

The financing package was raised through the group's subsidiary, Liquid Telecommunications Financing Plc.

"Liquid Telecommunications Financing Plc, part of the leading pan-African telecoms group Liquid Telecom, which is majority owned by Mr Strive Masiyiwa's Econet Global, has successfully arranged its $700 million bond and term loan financing package," said the group in a statement.

It is hoped that the funding will enable Liquid Telecom to further expand and enhance its Pan-African fibre network – the largest of its kind in the region – and support its vision for a more connected Africa.

"The group raised $550 million in the international debt capital markets in its debut bond, in addition to a $150 million term loan.

"The successful pricing of the bond, which launched on June 21, is a significant milestone for both the group and the wider African telecoms sector, which remains one of the least penetrated fixed and mobile internet connectivity markets in the world," said the group.

Through organic growth and acquisition, Liquid Telecom has built over 50 000 kilometres of fibre connecting nine countries in the region including Zimbabwe, and presently serves over 113 000 enterprise, carrier and retail customers.

The group's chief executive officer, Mr Nick Rudnick, said: "We are pleased with the strong support and interest Liquid Telecom has received internationally.

"We launched into a challenging market, and have attracted investors of high quality – many of whom are investing in African high yield bonds for the first time. This is a significant achievement for an African tech company."

Liquid Telecom serves businesses of all sizes through an extended service offering that includes integrated software, cloud, hosting and connectivity capabilities.

Towards the end of last year, the telecommunications giant announced that it had received unconditional approval from the Independent Communications Authority of South Africa (ICASA) to acquire Neotel to the tune of $435 million.

Neotel is South Africa's first converged communications network operator while Liquid Telecom is majority owned by Econet Global, the holding company of Econet Zimbabwe.

- chronicle

Tags: Liquid, Network, Growth,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Mugabe's legacy: A case of inherited oppression

by Patson Dzamara | 22 July 2017 | 61 Views

Family of 4 escape death by a whisker

by Staff reporter | 22 July 2017 | 92 Views

Lupane underdevelopment irks Zanu-PF youths

by Staff reporter | 22 July 2017 | 59 Views

WATCH: A message from the diaspora

by Staff Reporter | 22 July 2017 | 54 Views

Lost crops: Food for thought for Zimbabwe

by Praxedis Dube1, Rico Ihle1, Wim Heijman1 and Paul Struik2 | 22 July 2017 | 60 Views

Grace Mugabe turns 52 tomorrow

by Staff reporter | 22 July 2017 | 56 Views

Mliswa must Go! - Norton residents in demo

by Agencies | 22 July 2017 | 64 Views

'Zanu-PF fears Tsvangirai,' says MDC-T official

by Stephen Jakes | 22 July 2017 | 115 Views

Grace Mugabe declares Zanu-PF win in Matabeleland North

by Staff Reporter | 22 July 2017 | 96 Views

Tsvangirai set to meet party structures in Harare

by Staff Reporter | 22 July 2017 | 69 Views

Of artists fostering & protecting tyrants

by Tshaka Mgazo Ndlovu | 22 July 2017 | 66 Views

Mother's frantic search for missing son

by Philimon Bhogana Dube | 22 July 2017 | 73 Views

Messenger of court storms funeral

by Staff reporter | 22 July 2017 | 74 Views

Mugabe wades into the Marange chieftainship wrangle

by Staff reporter | 22 July 2017 | 62 Views

Grace Mugabe mine wrangle turns ugly

by Staff reporter | 22 July 2017 | 70 Views

Mugabe challenges Zanu-PF chefs

by Staff reporter | 22 July 2017 | 55 Views

Villagers to pay $10 for Heroes Day commemorations

by Staff reporter | 22 July 2017 | 56 Views

'She attacked me with a pot'

by Staff reporter | 22 July 2017 | 59 Views

'Mat North a Zanu-PF stronghold,' claims Grace Mugabe

by Staff reporter | 22 July 2017 | 53 Views

12 of 14-gang serial armed robbers convicted

by Staff reporter | 22 July 2017 | 62 Views

POSA to stay

by Staff reporter | 22 July 2017 | 63 Views

Bhasikiti challenges Mutasa to come clean on Mugabe meeting

by Staff reporter | 22 July 2017 | 65 Views

Mugabe lashes out at individuals who abuse cyber space

by Staff reporter | 22 July 2017 | 53 Views

Police approve Mthwakazi rallies

by Staff reporter | 22 July 2017 | 37 Views

Couple's only 2 kids drown in dam

by Staff reporter | 22 July 2017 | 49 Views

Jomo Sono invites Bosso to anti-Xenophobia Cup tourney

by Staff reporter | 22 July 2017 | 71 Views

ZBCtv to broadcast live Bulawayo concert

by Staff reporter | 22 July 2017 | 56 Views

Bosso founding player dies

by Staff reporter | 22 July 2017 | 86 Views

Tsvangirai warns against imposition of candidates

by Staff reporter | 22 July 2017 | 38 Views

Chombo's arrest bid flops

by Staff reporter | 22 July 2017 | 28 Views

Mugabe admits the existence of Zanu-PF militia groups

by Staff reporter | 22 July 2017 | 60 Views

WATCH: 'Dirty dancing' in Mashonaland Central

by Simbarashe Sithole | 22 July 2017 | 108 Views