Eaton Towers' USD30m for Ghana
TELECOMS| Jan. 13, 2012, 10:42 a.m.
Standard Bank Group, acting through Stanbic Bank Ghana and Standard Bank South Africa, has provided a debut debt financing for Eaton Towers Ghana Limited.
The transaction was signed on 22 December 2011 and provides for a 5-year senior secured term loan facility to fund the enhancement and upgrade of towers under a Site Sharing and Maintenance Agreement contract with Vodafone Ghana. It will fund further capital expenditure in relation to the build-out of up to 300 additional wireless towers in Ghana.
Paul Shang, Global Head of Investment Banking for Standard Bank Group says: "This transaction for Eaton Towers demonstrates our dedication and expertise in the African telecoms infrastructure sector. The cooperation between our local franchise and our international operations ensured that we could structure and deliver a debt facility that was tailor-made to Eaton Towers taking account of local practices and international lending standards. We are looking forward to supporting the Eaton Towers Group grow its business across Africa."
Peter Lewis, Chief Financial Officer of Eaton Towers, says: "We are delighted to have completed our first bank debt financing with Standard Bank Group. Given our strong deal pipeline and the interest we are seeing from financial and development institutions, we are confident that this will be the first of many such financing deals. This debt facility is an endorsement of our business model and demonstrates our ability to leverage our assets in Africa in a highly efficient way.”
MORE TELECOMS NEWS
Vodacom Congo outgoing, new boss meet DRC Prime MinisterOutgoing Vodacom Congo Managing Director, South African-born Godfrey Motsa, last week went to the Office of DRC Prime Minister Matata Ponyo to say good bye and thanks as his term at the helm of the mobile operator ended this month. Read More
Tigo Ghana upgrades Customer Support CentresAs part of efforts to offer its customers highly interactive and a more satisfying experience, telecom service provider, Tigo, says it is upgrading its customer support centres to ‘Customer Experience Centres’. Read More
Vodacom Congo to extend coverage to Central DRCMobile operator Vodacom is preparing to extend its network coverage to the central regions of the Democratic Republic of Congo (DRC). Read More
Glo grows subscriber figures to 27.3 millionGlobacom says it has worked assiduously to grow its subscriber base to some 27.3 million. By this latest figure, the telco has overtaken Airtel. Read More
Phase3 Telecom upgrades Adam Smith’s facilityPhase3 Telecom has upgraded its communications solutions offering to Adam Smith West Africa’s operations. Read More
Nokia devices account for 7m 3G devices, says MTNNokia handsets account for the majority of 3G devices on the MTN Nigeria network, the company says. Read More
Airtel Africa announces leadership changes in DRC, NigerBharti Airtel has announced the appointment of three key business leaders in the Democratic Republic of Congo (DRC) and Niger. Read More
BTCL shares to be floated in NovemberThe Botswana Telecommunications Corporation Limited (BTCL) Initial Public Offering, which has been in the pipeline for some time, has reached an advanced stage, says the government. Read More
Outsourcing of telecoms towers management a win-win situation - analystsThe sale of tower assets by African telecoms operators to independent management firms is a win-win situation, according to analysts, with operators benefitting from reduced costs and the buyers obtaining potentially valuable long-term assets. Read More
FEATURED STORYMFarmer SMS redefines market access for Ugandan farmers
Ugandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures.
BEST READ NEWS
IN DEPTHNIG President speaks his mind
Bayo Banjo, CEO, Disc Communications and President, Nigeria Internet Group (NIG) says the proposed licensing of infrastructure companies by the Nigeria Communications Commission (NCC) will breed corruption and entrench monopolistic practices. Kokumo Goodie reports.