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Airtel Africa signs $500m loan facility
StockMarketWire.com
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Telecommunications company Airtel Africa said it had signed a new $500 million loan facility with a group of relationship banks to partially fund its refinancing of debt.
The new committed facility consisted of a combination of a revolving credit facility and term loans with tenor of up to 4 years.
The facility would be used to partially refinance the group's €750 million Euro denominated bond (c.$880m) due 20 May 2021.
The balance of the Euro denominated bond would be repaid with existing group cash to reduce gross debt and associated interest costs, the company said.
At 8:43am: (LON:AAF) Airtel Africa PLC share price was 0p at 74.8p
Story provided by StockMarketWire.com
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