IHS Holding in $200m capital raising

Ecobank Capital has announced a $202 million capital raise for IHS Holding, an independent mobile infrastructure provider, to finance mobile network tower investments in Cameroon and Côte d’Ivoire.

The proceeds will be put to use as part of IHS’s acquisition of MTN Group’s 1,757 mobile network towers in Cameroon and Côte d’Ivoire along with the continuation of IHS’s solar energy and build-to-suit programmes for other wireless operators.

Issam Darwish, CEO of IHS Holding, said:  “I wish to express my appreciation to Ecobank, the co-arrangers and participating banks. The facility was oversubscribed and securing this credit facility reaffirms our excellent reputation on the local and international credit markets.”

Ehouman Kassi, Ecobank’s group head of investment banking, said: “This funding is in line with Ecobank’s strategy of supporting our key clients in their pan-African development. This transaction reinforces the commitment of the arrangers and participating banks to ongoing financing of the mobile network infrastructure which is crucial to the economic development and growth of the continent.”

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IHS Holding in $200m capital raising