REG - Helios Towers PLC - New Facilities and tender offer of Senior Notes

Helios TowersAnnouncement

14/09/2023 07:15

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RNS Number : 4388M  Helios Towers PLC  14 September 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Helios Towers plc

 

Helios Towers announces New Facilities and capped US$400m tender offer of the
Senior Notes

 

London, 14 September 2023: Helios Towers plc ("Helios Towers", the "Company"),
the independent telecommunications infrastructure company, is pleased to
announce that it has signed a new five-year up to US$600m term loan facilities
agreement ("New TL") and up to US$120m revolving credit facility agreement
("New RCF") (together the "New Facilities"), with the New Facilities ranking
pari passu with the 7.000% Senior Notes due 2025 issued by HTA Group, Ltd (the
"Senior Notes").

 

The proceeds of the New TL will be used to (a) fund a cash tender offer for up
to US$400m of the Senior Notes, which the Company announced today, and is
subject to the conditions set forth in the offer to purchase dated 14
September 2023, (b) repay the US$65m drawn on the existing term loan facility
dated 8 June 2020 ("2020 TL"), with cancellation of the remaining undrawn
commitments, together with payment of associated fees, costs and expenses and
(c) fund general corporate purposes. The New RCF will replace the Company's
existing and undrawn US$70m RCF dated 8 June 2020 ("2020 RCF") in full.

 

The New Facilities feature a 1ppt tighter opening margin(1) compared to the
2020 TL and 2020 RCF being refinanced, reflecting the diversification,
increased hard-currency earnings and scale achieved by the Company over the
past three years. The New TL also extends the average remaining life of the
Company's debt, supports proactively addressing the 2025 Senior Notes maturity
and represents an expansion of Helios Towers' banking group.

 

(1) The New TL margin features a leverage ratchet, allowing the margin to be
adjusted up or down depending on the Company's reported net leverage. The 1ppt
reduction from the 2020 TL and 2020 RCF is calculated using Company estimated
net leverage for Q3 23, with the margin expected to further reduce as the
Company continues its focus on deleveraging.

 

Investor Relations

Chris Baker-Sams - Head of Strategic Finance and Investor Relations

investorrelations@heliostowers.com (mailto:investorrelations@heliostowers.com)

+44 (0)752 310 1475

 

Media relations

Edward Bridges / Stephanie Ellis - FTI Consulting LLP

+44 (0)20 3727 1000

 

For the purposes of MAR, the person responsible for making this announcement
is Paul Barrett, General Counsel and Company Secretary.

 

About Helios Towers

 

·     Helios Towers is a leading independent telecommunications
infrastructure company, having established one of the most extensive tower
portfolios across Africa and the Middle East. It builds, owns and operates
telecom passive infrastructure, providing services to mobile network
operators.

·     Helios Towers owns and operates over 13,800 telecommunication tower
sites in nine countries across Africa and the Middle East.

·     Helios Towers pioneered the model in Africa of buying towers that
were held by single operators and providing services utilising the tower
infrastructure to the seller and other operators. This allows wireless
operators to outsource non-core tower-related activities, enabling them to
focus their capital and managerial resources on providing higher quality
services more cost-effectively.

 

For more information about Helios Towers, please visit:
https://www.heliostowers.com/investors/
(http://www.heliostowers.com/investors/)

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