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
MTN Ghana launches 20th anniversary edition of i-FestThe MTN Ghana 20th anniversary edition of the internet festival (iFest) was officially launched at a colourful outdoor event in Abeka Lapaz, a suburb of Accra. Read More
Gilat Satcom, Total IT Solutions connect 10 villages in NigeriaGilat Satcom is providing voice and high-speed data to ten villages in the states of Adamawa, Borno, Kano, Katsina, Oyo and Yobe in the North East of Nigeria. Read More
NCC enforces 2442 Do Not Disturb short codeFollowing an NCC directive, Nigerian mobile operators will activate a Do Not Disturb facility which gives subscribers the freedom to choose what messages to receive from the various networks. Read More
Tigo Business – Building trusted business partner relationships with clientsTigo Business has increased and empowered its account management team to improve its overall customer service experience. Read More
Danbatta seeks Reps’ cooperation on telecom regulationsThe Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has called for more cooperation and understanding of members of the House of Representatives, on regulatory functions of the commission. Read More
Orange completes acquisition of Airtel in Burkina FasoOrange has announced that, together with its subsidiary Orange Côte d’Ivoire, it has completed the acquisition of 100% of the mobile operator Airtel in Burkina Faso. Read More
MTN Ghana goes live with 4G LTE in grand styleThe plush iconic MTN House, home to MTN Ghana’s operations came to a standstill on Tuesday, as the country’s telecom leader officially unveiled its latest 4G LTE services across the length and breadth of Ghana. Read More
NCC to end telcos’ voluntary adherence to corporate governanceAfter more than one year of voluntary adherence by telcos to the Corporate Governance Code for the industry, the Nigerian Communications Commission (NCC) yesterday started a journey that will lead to mandatory enforcement. Read More
Telkom Kenya appoints new CEOTelkom Kenya has announced the appointment of Aldo Mareuse as the Chief Executive Officer and member of the Board of Directors. Read More
N1.04tr NCC fine: MTN agrees on N330b staggered paymentMTN Nigeria and the Nigeria Communications Commission have reached an amicable settlement in the matter of the N1.04trillion fine imposed by the regulator in October last year. Read More
FEATURED STORYFirst-ever Africa Barclays Accelerator programme concludes
Ten fintech companies have concluded the first-ever Barclays Accelerator, powered by Techstars in Africa.
BEST READ NEWS
IN DEPTHEthical Hacking students can’t get a heck of a job
Botswana ethical hacking students report that they are failing to break into the local job market.