AXIAN Telecom, a leading telecommunications and digital services provider across Africa, has successfully priced its $600 million Senior Notes, set to mature in 2030, marking a significant milestone in the company’s financial strategy and regional growth ambitions.
The bond issuance, officially recently announced, attracted strong interest from global institutional investors, underscoring confidence in AXIAN Telecom’s business model and long-term vision. Initially marketed with a yield guidance of approximately 7.875%, the notes were ultimately priced at a 7.250% coupon, resulting in a yield of 7.375%—a competitive outcome given the current volatility in global financial markets.
Despite broader macroeconomic uncertainties, the offering was nearly three times oversubscribed, reflecting robust investor appetite and reinforcing AXIAN Telecom’s reputation as a trusted African issuer in international capital markets.
Strategic Use of Proceeds
The proceeds from the bond issuance will be strategically allocated to:
- Refinance existing debt, including outstanding notes and term loans, thereby optimizing the company’s capital structure.
- Support broader corporate initiatives, particularly those aimed at expanding AXIAN Telecom’s digital infrastructure footprint across its operating markets in Africa.
Commitment to Sustainable Development
In line with its mission to drive inclusive digital transformation, AXIAN Telecom incorporated a Sustainable Development Impact Disclosure into the bond documentation. This disclosure outlines the company’s commitments to:
- Expand telecommunications infrastructure in underserved regions
- Increase smartphone penetration
- Broaden access to mobile financial services
- Enhance connectivity and digital inclusion across the continent
Industry and Legal Support
The transaction was jointly led by J.P. Morgan, Standard Chartered Bank, and Standard Bank, who served as joint bookrunners. Legal counsel was provided by Latham & Watkins LLP on behalf of AXIAN Telecom, while White & Case LLP represented the initial purchasers.
Leadership Commentary
Hassan Jaber, CEO of AXIAN Telecom, commented on the successful issuance:
This bond issuance is a testament to the strength of our diversified business model and the trust investors place in our long-term vision. It enables us to accelerate our mission of delivering inclusive digital transformation and connectivity across Africa.
