France’s Proparco Anchors $1.2 Billion Bond for US-Listed IHS
- Africa-focused tower firm to spend proceeds refinancing debt
- Investment to help unlock more private finance for Africa
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France’s state development bank Proparco is an anchor investor for IHS Holdings Ltd.’s $1.2 billion dual-tranche bond issue, one of the biggest ever for an African telecoms operator.
Most of the proceeds will help refinance debt and extend maturities, Emmanuelle Riedel Drouin, Proparco’s head of lending, said in an interview. Other investors include the International Finance Corp. and the Emerging Africa and Asia Infrastructure Fund.