By Rebecca Melvin
New York, June 10 – Helios Towers plc indirect wholly owned subsidiary HTA Group, Ltd. announced that it priced an upsized $750 million 7% senior notes due 2025 (B2/B) at 99.439.
The deal size was initially talked at $425 million. The notes are guaranteed by Helios and some of its direct and indirect subsidiaries.
Proceeds will be used to redeem all of HTA Group’s outstanding senior notes due 2022 and to repay amounts outstanding under the company’s $125 million term facility, of which $75 million was outstanding as of June 8, and for general corporate purposes, according to a company news release on Wednesday.
“We are incredibly pleased to announce the successful pricing of our bond offering today.
“Given that we are reopening the African corporate debt capital markets after the Covid-19 volatility, we initially envisaged a smaller new issuance of $425 million with a tender offer for up to $325 million of our outstanding existing 2022 senior notes. However, demand and pricing for the new senior notes offering was such that we upsized to a $750 million issuance and the full redemption of the existing 2022 senior notes,” the company’s chief financial officer, Tom Greenwood, stated in the release.
Helios is a London-based telecommunications company serving customers in Africa.
| Issuer: | HTA Group Ltd.
|
| Guarantor: | Helios Towers plc
|
| Amount: | $750 million
|
| Maturity: | 2025
|
| Coupon: | 7%
|
| Price: | 99.439
|
| Announcement date: | June 10
|
| Ratings: | Moody’s: B2
|
| S&P: B
|
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