AXIAN Telecom makes successful debut on debt capital markets

AXIAN Telecom, the pan-African provider of telecommunications, mobile money services and digital infrastructure, has successfully priced its $420m senior notes due in 2027.

The company raised capital to finance the repayment of some of its existing debt and support its overall growth across the continent. Since 2004, AXIAN Telecom has expanded into Tanzania, Madagascar, Togo, Mauritius and Uganda, and has joint ventures in Senegal, Réunion-Mayotte, and Comoros.

The bond was launched on February 9th and was supposed by anchor orders from major development finance institutions (DFIs) such as the CDC Group of the UK, the DEG of Germany, the International Finance Corporation (IFC), but also the Emerging Africa Infrastructure Fund (EAIF).

The bond was priced at 7.375% and the order book ended up being 2.2x oversubscribed, with half of the investors coming from the United States.

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Africa50 completes a growth equity investment in PAIX Data Centres

Africa50 has just completed an equity investment of $20m into PAIX Data Centres, forming the first tranche of PAIX’s Series B financing by Africa 50. The funds will be used to expand PAIX’s data centre capacity and its growth plans into new African markets. PAIX currently operates one data centre in Accra and one in Nairobi. Africa50 is the company’s first institutional investor and will be supporting the company’s expansion of its world class cloud-and-carrier-neutral data centres across the continent.

Algeria’s national oil company renews onshore PSC in Niger

SONATRACH International (SIPEX BVI), the international subsidiary of the Algerian national oil company, has recently renewed its onshore production sharing contract (PSC) in Niger. On February 4th, it signed in Niamey the updated PSC for its Kafra Block. The initial PSC was signed in 2015 and led to the successful drilling of two exploratory wells. KFR-1, drilled in 2018, notably discovered 168m barrels of heavy crude oil (2P). A year later, KFRN-1 discovered another 400m barrels of paraffin-rich reserves (waxy oil). Following several analyses, SONATRACH mentioned that current updated liquids volumes were estimated at 100m barrels in place (2P).