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
Yes, Etisalat dragged us to court, says MTNMTN Nigeria has confirmed that it has been served with court papers based on a lawsuit filed by Emerging Markets Telecommunications Services Limited (Etisalat Nigeria) over the acquisition of Visafone, the only surviving code division multiple access (CDMA) operator in the country. Read More
Etisalat challenges MTN spectrum useEtisalat Nigeria says it has brought a legal action challenging MTN’s use of the 800MHZ spectrum following the acquisition of Visafone. Read More
NewTelco SA extends African footprint with dedicated Kenyan presenceThe Jasco Group has expanded the presence of NewTelco South Africa, a joint venture between the Jasco Group and NewTelco GMBH, into the East African region with a dedicated presence in Kenya. Read More
Facility closure to affect Ondo services, warns MTNMTN Nigeria has warned that the closure of its facilities in Ondo by the state government will negatively impact the quality of service in the state. Read More
Telcos threaten service blackout on states shutting BTSNigeria’s telecoms operators have threatened not to reopen any base transmission station (BTS) that were forcefully shut down by states. Read More
Neglect of CDMA a mistake, says NCC CEOThe Nigeria Communications Commission (NCC) has lamented the comatose state of the CDMA sector of the telecoms industry. Read More
Airtel introduces new UnlimiNet 20 daily bundleAirtel has introduced a new “UnlimiNet 20 bundle”, billed as the most affordable bundled offer for voice, SMS and data on the Airtel network. Read More
Safaricom opens new Narok retail shopSafaricom has set its sights on Narok County as it seeks to provide residents of the rapidly growing town with easier access to its wide range of products and services. Read More
Why we launched Mate 8, M2 Tablet: HuaweiChinese original equipment manufacturer Huawei has said it launched its two new flagship products, Mate 8 and M2 Tablet, to cater for the increasing mobile needs of consumers. Read More
FEATURED STORYViber Spreads Good Vibes in Africa with the introduction of public chats
Viber, one of the leading messaging and calling apps with more than 664 million unique users worldwide, has opened its latest social channel ‘Public Chats’ to partners in Africa and the Middle East.
BEST READ NEWS
IN DEPTHPoised for greater heights – Roshi Motman, AfricaCom CEO of the Year Winner
Roshi Motman is not your average CEO. Since taking up the reins as the first female CEO of Tigo Ghana in 2014, she has led the Tigo brand through a remarkable transformation.
COMPANY NEWSArbor Networks maintains leadership in IHS Infonetics Report on DDoS prevention appliances
Arbor Networks was identified once again as the top supplier of DDoS mitigation appliances overall, as well as in the Carrier, Enterprise and Mobile market segments, according ...