Airtel Africa Plc announces redemption of outstanding senior notes

Airtel Africa Plc has announced that its subsidiary, Bharti Airtel International Netherlands launched a cash tender offer to redeem up to $300m of its $1 billion of 5.35% Guaranteed Senior Notes due 2024. There is an early tender deadline of 5 July 2022 for Noteholders wishing to tender their Notes for preferential early tender consideration, otherwise the tender offer will expire on 19 July 2022, unless amended or extended by Bharti Airtel International Netherlands at its sole discretion.

All Notes accepted for purchase will be cancelled ahead of their maturity in May 2024. Bharti Airtel International Netherlands reserves the right at its sole discretion to amend or waive any of the terms of the tender offer.

A further announcement will be made following completion of the tender offer

This early redemption will be made out of Group cash reserves and aligns with the continuation of our pursuit of a reduction of external foreign currency debt at Group level.

Source: Airtel Africa Plc announces redemption of outstanding senior notes – StocksWatch (stocksng.com)

Related Posts

25

May
Business & Economy

Stock Market Review: May 25, 2023

The stock market on Wednesday closed on a positive note with 0.58% growth. The All Share Index and Market Capitalisation stands at 52,927.60 points and 28.819 trillion respectively. In a stock market review with Gilbert Ayoola, a capital market expert, the following were discussed: Excerpts: The monetary policy committee of CBN has increased MPR to 18.5%. How will this […]

25

May
Business & Economy

Oando kicks-off Sustainable Transport Initiative in Lagos State with launch of Electric-Mass Transit buses

Oando Clean Energy Limited (OCEL) has achieved a groundbreaking milestone with the launch of the first phase of its Sustainable Transport Initiative for Lagos State. The initiative will see OCEL introducing electric buses to LAMATA’s current fleet of buses. The endeavor aims to support the transformation of the State’s public transport system through the development and deployment[…]