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Airtel Africa PLC (AAF)

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Tuesday 08 March, 2022

Airtel Africa PLC

Senior Notes Repayment

RNS Number : 9219D
Airtel Africa PLC
08 March 2022
 

 

Airtel Africa plc

('Airtel Africa', or the 'Group')

 

Senior Notes Repayment

 

 

 

London and Lagos, 8 March 2022: 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 c.$505m 5.125% Guaranteed Senior Notes, originally due in March 2023, using cash balances available at Group level.

 

Settlement includes all outstanding accrued interest up to the Redemption date of 7 March 2022. One-off costs of c.$17.6m for the applicable premium will be recorded within finance costs, while the Group will save an aggregate of c.$26.5m future interest payments from early redemption.

 

Since the time of the IPO in June 2019, Airtel Africa has successfully pursued a strategy of strengthening its balance sheet through both deleveraging. and reducing US dollar debt exposure. Over this period the Group has reduced its USD HoldCo debt by c.$1.7bn and improved its leverage ratio to 1.4x net debt to underlying EBITDA at December 2021. Following this early repayment of Senior Notes, the Group has $1bn of bonds remaining at HoldCo level, due in May 2024.

 

 

 

-ENDS-

 

Enquiries

 

Airtel Africa - Investor Relations

Pier Falcione

Morten Singleton

[email protected]

 

+44 7446 858 280

+44 7464 830 011

+44 207 493 9315

 

 

Hudson Sandler

Nick Lyon

Bertie Berger

[email protected]

 

 

 

+44 207 796 4133

 

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

www.airtel.africa

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