Digital Infrastructure

AXIAN Telecom makes successful debut on debt capital markets

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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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