{"id":2119,"date":"2012-01-12T08:40:01","date_gmt":"2012-01-12T08:40:01","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=2119"},"modified":"2012-01-12T09:58:30","modified_gmt":"2012-01-12T09:58:30","slug":"eaton-towers-secures-30m-debt-facility-for-africa-expansion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/2119\/eaton-towers-secures-30m-debt-facility-for-africa-expansion\/","title":{"rendered":"Eaton Towers&#8217; $30m African expansion"},"content":{"rendered":"<p><a title=\"Company Information\" href=\"http:\/\/mybroadband.co.za\/vb\/showthread.php\/366452-Eaton-Towers\" target=\"_blank\">Eaton Towers<\/a>, an African tower ownership and management company, has secured a $30m debt facility from <a title=\"Company Information\" href=\"http:\/\/mybroadband.co.za\/vb\/showthread.php\/313661-Standard-Bank\" target=\"_blank\">Standard Bank Group<\/a>, acting through Stanbic Bank Ghana and the Standard Bank of South Africa, to build and develop both existing and new telecom towers across Ghana.<\/p>\n<p>This is Eaton&#8217;s first bank debt financing and follows the $150m equity investment into Eaton Towers last September by Capital International Private Equity Funds (CIPEF), a private equity investor that focuses on emerging markets.<\/p>\n<p>Peter Lewis, Eaton Towers CFO, considers the debt facility an endorsement of the company&#8217;s business model.<\/p>\n<p>The debt facility and equity investment will enable Eaton Towers to add scale to its business of selling telecom tower co-location and shared-infrastructure facilities to mobile operators.<\/p>\n<p>Specifically, the debt facility will fund operational maintenance of existing towers that Eaton manages for Vodafone Ghana and the construction of new towers in Ghana. Eaton Towers has drawn down $10 million of the facility so far.<\/p>\n<p>In October 2010, Eaton Towers signed a 10-year contract to take over the operations and co-location management of 750 telecom towers for Vodafone Ghana and the company plans to extend its operations across other parts of sub-Saharan Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eaton Towers has secured a $30m debt facility from Standard Bank Group to build and develop both existing and new telecom towers in Africa.<\/p>\n","protected":false},"author":10,"featured_media":2121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[497,26,501,499,495],"class_list":["post-2119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-eaton-towers","tag-headline","tag-stanbic","tag-standard-bank","tag-telecoms"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/2119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=2119"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/2119\/revisions"}],"predecessor-version":[{"id":2125,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/2119\/revisions\/2125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/2121"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=2119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=2119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=2119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}