(Alliance News) - Helios Towers PLC on Thursday said it has successfully upsized and priced its offering of USD225 million of aggregate principal amount of its existing 7.00% senior notes due 2025.
The notes are of the same class as FTSE 250-listed telecommunications company Helios's USD750 million 7.00% senior noted due 2025, issued in June.
The notes will have an issue price of 106.25 of principal amount, a yield-to-maturity of 5.61% and will bear an interest rate of 7.00, paid semi-annually in June and December, starting December 18, 2020.
Proceeds of the offering, if completed, will be used for general corporate purposes such as its recently announced agreement to acquire Free Senegal's passive infrastructure assets, as well as to pay fees and expenses relating to the offering.
Interim Chief Financial Officer Manjit Dhillon said: "We are delighted to announce the successful pricing of our bond offering today, which again demonstrates continued confidence in our business and future strategy. We were pleased to come back to the capital markets at this point, leveraging attractive market pricing and further reducing our cost of funding. The proceeds will provide additional financial firepower to support our continued expansion and execute on our growth strategy."
Shares in Helios were down 0.6% at 155.00 pence in London on Thursday morning.
By Anna Farley; annafarley@alliancenews.com
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Helios Towers (HTWS)