Smile Telecoms $365 million financing facility

Overview:

• Mauritian based telecommunications company Smile Telecommunications secured a $365 million debt and equity multi-tranche financing facility. 
• The financing came in the form of a $315 million loan multi tranche debt facility, led by the African Export-Import Bank, and $50 million raised in equity the Public Investment Corporation (PIC). 
• Other lenders include the Development Bank of Southern Africa, Diamond Bank, Ecobank Nigeria, the PIC, the Industrial Development Corp. of South Africa and Standard Chartered Bank.
• The company owns and operates mobile wireless 4G LTE broadband networks in Nigeria, Tanzania and Uganda. 
• The company will use the loan to expand its operations in these countries and launch broadband in the DRC in early 2016.

John Crabb - Journalist