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LequteMan
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Following a successful placement of USD250m of 8.375% senior unsecured notes due 2019, Fitch Ratings has issued telecom infrastructure group Helios Towers Nigeria Limited (HTN) a Long-term Issuer Default Rating (IDR) of 'B' with a Stable Outlook.
The notes have been assigned a final 'B' rating and Recovery Rating of 'RR4' upon receipt of final documentation conforming to preliminary information already received by Fitch, Reuters reports.
HTN issued USD250m of senior unsecured notes maturing in 2019 through a fully owned Dutch finance subsidiary, Helios Towers Finance Netherlands B.V. The notes are guaranteed by HTN and Tower Infrastructure Company Limited, a fully owned subsidiary of HTN, which owns part of the group's tower infrastructure assets.
The notes are rated at the same level as the company's IDR of 'B' as they constitute a direct, unconditional and unsecured obligation of HTN and of the other guarantor, and rank pari passu with all existing and future unsecured obligations of HTN.
HTN is the second-largest independent tower company in Nigeria (based on the number of towers) with 1,187 towers at end-2013. The company leases space to telecoms operators at its tower sites for antennas and other wireless transmission equipment and provides full site maintenance, including power management and security services, under long-term lease agreements.
#Fitch #Helios #Nigeria #London #HTN #IDR
The notes have been assigned a final 'B' rating and Recovery Rating of 'RR4' upon receipt of final documentation conforming to preliminary information already received by Fitch, Reuters reports.
HTN issued USD250m of senior unsecured notes maturing in 2019 through a fully owned Dutch finance subsidiary, Helios Towers Finance Netherlands B.V. The notes are guaranteed by HTN and Tower Infrastructure Company Limited, a fully owned subsidiary of HTN, which owns part of the group's tower infrastructure assets.
The notes are rated at the same level as the company's IDR of 'B' as they constitute a direct, unconditional and unsecured obligation of HTN and of the other guarantor, and rank pari passu with all existing and future unsecured obligations of HTN.
HTN is the second-largest independent tower company in Nigeria (based on the number of towers) with 1,187 towers at end-2013. The company leases space to telecoms operators at its tower sites for antennas and other wireless transmission equipment and provides full site maintenance, including power management and security services, under long-term lease agreements.
#Fitch #Helios #Nigeria #London #HTN #IDR
