Liquid Telecom has successfully raised $180 million to refinance its debt, invest in the expansion of its data centres and network infrastructure. The Strive Masiyiwa owned telecoms company closed a US$180 million secured tap offering making a total of $1.33 billion raised since 2015.
The successful offering reflects the increased demand that the Group has seen in its wholesale, enterprise and retail segments in the first-half of 2017.
Commenting on the Offering, Nic Rudnick, Liquid Telecom’s Group CEO said:
“This is an exciting time for Liquid Telecom as we deliver our strategy with further investment and the monetisation of our network.
Through the year we have seen increased demand from our customers reflected by our revenue and EBITDA growth. With this backdrop in mind, the Board has approved the repayment of the term-loan portion of our debt, replacing it with further bonds and therefore simplifying our capital structure and raising additional funding.
The funding will enable Liquid Telecom to continue to deliver its strategy to further expand and enhance its pan-African fibre network – the largest of its kind in the region – and broaden its digital service offering such as enterprise cloud services including Office 365 and Azure and new content products including Netflix and 100 other channels across the African continent.”