Airtel Africa repays USD 505m debt one year earlier

Airtel Africa repays USD 505m debt one year earlier

Airtel Africa, the provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, confirmed that it has completed the early repayment of its USD 505 million 5.125% Guaranteed Senior Notes, using cash balances available at the Group level.

The telco focused on Africa explained that the notes were originally due in March 2023 and as a result of early repayment the company would save $26.5 million in future interest payments.

With this repayment, Airtel Africa now has $1 billion worth of bonds remaining, due May 2024, said a statement from the company.

“Further to the announcement of 4 February 2022, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today confirms that it has completed the early repayment of its $505m 5.125 percent Guaranteed Senior Notes, originally due in March 2023, using cash balances available at Group level,” Airtel stated.

The company did explain, however, that it was committed to strengthening its balance sheet by deleveraging and reducing its dollar debt exposure. The telco further explained that it has so far successfully reduced its HoldCo (USD) debt by $1.7 billion and improved its leverage ratio.

MORE ARTICLES YOU MAY BE INTERESTED IN...


Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.