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(Alliance News) - Helios Towers PLC on Wednesday set out to raise USD160 million via a placing, retail offer and convertible bond offering.
The telecommunications infrastructure company focused on Africa said it will place 46.8 million placing shares and 1.3 million retail offer shares to raise around USD110 million. Shares will go for 163 pence each in both the placing and retail offer, giving buyers a 5.3% discount on Helios's closing share price of 172.2 pence per share on Tuesday.
Shares in Helios were down 4.5% at 164.40 pence each in London on Wednesday morning.
BofA Securities, Citi and Jefferies are acting as joint global coordinators in connection with the Placing.
Helios noted that it received support for the capital raise from multiple leading shareholders.
Turning to the bonds, Helios said the new bonds will be issued by subsidiary HTA Group Ltd via a tap issuance of its existing USD250 million senior unsecured guaranteed convertible bonds due 2027. This will raise around USD50 million for the company.
The bonds will carry a coupon of 2.875% per annum.
Helios did not mention the reason for the capital raise or how the proceeds will be used.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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