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
Safaricom opens new data centre in KapsoyaSafaricom has opened its first state-of-the-art equipment hub in Eldoret in a move that is aimed at enhancing network quality in the North Rift region. Read More
Africell DRC gets Vodacom, Orange interconnectionAfricell subscribers in the Democratic Republic of Congo (DRC) are now able to make calls towards Vodacom and Orange networks as the suspension has been lifted. Read More
Vodafone Ghana launches loyalty programmeVodafone Ghana, in a bid to enhance relationship with its customers, has launched its Loyalty Programme with numerous benefits for its customers across the continent. Read More
DRC call rates increase – operators call for calmCellphone users in Democratic Republic of Congo (DRC) are unhappy after being told last week by SMS that they would have to pay more for making calls from 28 February 2015. Read More
Cameroon, Chad sign fibre optic partnershipCameroon and Chad have signed a vital telecom partnership that could change the way their populations use ICTs. Read More
MTN Uganda implements UCC’s new codes directiveMTN Uganda has finally toed the line of Uganda’s telco industry regulator by adopting the recommended codes for loading and checking balances on mobile phones in Uganda. Read More
MTN encourages more talk with relaunch of TruTalkMTN Nigeria recently re-launched the MTN TruTalk, a prepaid plan that offers customers the opportunity to make calls at a new tariff rate of 11 kobo/sec to 11 selected numbers from any network. Read More
Tigo upgrades microwave backbone in Eastern and Volta regionsIn a bid to improve its customer experience, Tigo has completed expansion work on its Eastern Microwave backbone. Read More
Mali Orange relief as international calls syndicate dismantledMali Orange investors and management are breathing a sigh of relief after two brothers who used the company network to allegedly operate an illegal international calls business for the past six months were arrested last week in the capital Bamako. Read More
DRC mobile operators to be taken to court by opposition politiciansParliamentary leaders of the political opposition in the Democratic Republic of Congo (DRC) are taking the country’s mobile operators to court for suspending their numbers for one month without any valid reasons. Read More
FEATURED STORY2bn priced out of internet access
A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.
BEST READ NEWS
IN DEPTHKenya’s digital TV battle hots up
Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.