10 Apr Africa: US$600m bond gives Helios Towers Africa a lift
Telecoms infrastructure services provider Helios Towers Africa has posted US$283m in revenue, a 44% increase year-on-year, and a 143% increase in adjusted EBITDA to US$85m, according to its financial results for the year ended 31 December 2016.
86% of its revenue came from investment grade or near investment grade customers, and the company’s net debt stood at US$267m as at 31 December 2016.
In March the company announced its maiden corporate bond, with US$600m raised to enable investment in tower infrastructure and acquire remaining minorities in the group’s companies.
During the period under review, the company added 1 053 tower sites, and its tower portfolio now stands at 6, 477 representing a CAGR rate of 29.6% between 2013 and 2016.
Growth has been attributed to the corporate bond, as well as the acquisition of Airtel towers in the DRC and “other organic expansion”, the company stated.
“We have recently issued a US$600m Bond that has added greater strength to our balance sheet and shows our strategy is appreciated as the right one. We are positioned to capitalise on customer demand for new sites as they work to meet point-of service requirements. I look forward to the future with confidence,” said Kash Pandya, CEO of Helios Towers Africa.
Pandya added, “2016 was an excellent year for HTA both operationally and financially and momentum has continued into 2017. The last year has been one of significant growth for our business. We have seen strong organic revenue growth with the addition of 796 colocation tenancies and the acquisition of 967 towers and 412 colocation tenancies in the Democratic Republic of Congo, a market with real growth potential,
“The refocusing of the business by the new management team is delivering and we’ve reported our highest ever revenue and Adjusted EBITDA figures today. Our current momentum and identified opportunities make us very excited about what we can deliver in 2017.
Source: IT Web Africa