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Prospect News home > News index > List of issuers H > Headlines for HTA Group, Ltd. > News item |
S&P gives B to Helios Towers Africa, notes
S&P said it assigned its preliminary B long-term corporate credit rating to Helios Towers Africa Ltd. (HTA) and its subsidiary, HTA Group Ltd.
The agency views HTA Group as core to the group as it is a wholly owned financing entity that is expected to bear the entire group's senior debt post refinancing.
The outlook is stable.
In addition, S&P assigned a preliminary B issue rating to proposed senior notes to be issued by HTA Group.
S&P said the rating follows Helios Towers Africa’s plans to issue $600 million of senior notes.
The agency expects the majority of the proceeds to be used to repay the group's outstanding secured term loan facilities. In addition, the proceeds will be used to cover transaction fees, pending tower acquisitions, the buyout of a minority stake in its Tanzanian subsidiary, and to provide additional liquidity for capital expenditure (capex).
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