Photo by: Duane Daws
Independent telecommunications tower company Helios Towers Africa (HTA) has raised $630-million in new equity resources from existing and new shareholders, enabling the company to further consolidate its pan-African vision and market position, the company said on Thursday.
HTA also expected to complete negotiations shortly on new and extended debt facilities of more than $350-million with a strong syndicate of international and local lending institutions.
“We are delighted to have received this vote of confidence in our strategy and the growth opportunity available, from both our existing investors and new supporters,” HTA CEO Chuck Green commented.
Following this latest injection of capital into the business, HTA would have raised more than 1.8-billion in external financing since late 2009 to fund acquisitions and organic growth.
“This capital has enabled HTA to achieve and optimise its growth strategy with regard to the African telecommunications tower industry, in which there continues to be huge potential,” the company said.
“There is a need for 100 000 points of service (PoS) in Africa to merely satisfy demand for [second-generation] coverage and associated capacity demand over the next five years. This PoS requirement is underpinned further by the growing demand for [third- and fourth-generation] data, which is driving the need for significant additional infrastructure capacity and in-fill across the continent,” HTA said.
“As long-term investors in the global wireless industry, we are excited about the tremendous growth potential across Africa and HTA’s unique position as the leading, independent telecommunications tower company on the continent,” new HTA shareholder Providence Equity Partners MD Dany Rammal added.