REG - Helios Towers PLC - Results of capped tender offer

Helios TowersAnnouncement

16/10/2023 07:15

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RNS Number : 2073Q  Helios Towers PLC  16 October 2023

HELIOS TOWERS plc

 

Results of capped tender offer

 

London, 16 October 2023: Helios Towers plc ("Helios Towers", "the Group" or
"the Company"), the independent telecommunications infrastructure company, is
pleased to announce that US$325m aggregate principal of the Group's US$975m
7.000% Senior Notes have been tendered and accepted. As previously announced,
the tender offer will be funded through proceeds from the new up to US$720m
loan and credit facilities raised in September 2023. The undrawn amounts of
the loan facilities remain available for future refinancing or general
corporate purposes.

 

Key highlights of the transaction:

 

·     Extends the Company's weighted average remaining debt maturity by
almost one year(1).

 

·     Neutral impact to gross and net leverage.

 

·     Group cost of debt(1) increases marginally from 6.7% to 7.1%, despite
a rising rate environment, reflecting the improved diversification and scale
of the business.

 

·     Following the capped tender offer the Group will continue to have
over US$400m of undrawn debt facilities.

 

Tom Greenwood, Chief Executive Officer, commented:

 

"We are pleased to proactively manage our balance sheet through a partial
tender offer of our 2025 Senior Notes. Alongside extending our maturities, our
cost of debt has remained largely unchanged, despite the rising rate
environment. This is a reflection of our improved credit profile, achieved
through geographic expansion, improved hard-currency earnings, increased scale
and strong conviction in the business by our key banks. We look forward to
discussing this transaction, alongside our Q3 performance during our results
call on 2 November 2023."

 

(1) Calculated on a weighted basis using reported drawn debt as of Q2 2023,
pro forma for the transaction.

 

 

Investor Relations

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

investorrelations@heliostowers.com

+44 (0)782 511 2288

 

Media relations

Edward Bridges / Stephanie Ellis - FTI Consulting LLP

+44 (0)20 3727 1000

 

 

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/
(https://www.heliostowers.com/investors/)

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