Helios Towers plc, the independent telecommunications infrastructure company, has announced that it has signed a new five-year up to US$600m term loan facilities agreement (“New TL”) and up to US$120m revolving credit facility agreement (“New RCF”) (together the “New Facilities”), with the New Facilities ranking pari passu with the 7.000% Senior Notes due 2025 issued by HTA Group, Ltd (the “Senior Notes”).
The proceeds of the New TL will be used to (a) fund a cash tender offer for up to US$400m of the Senior Notes, which the Company announced today, and is subject to the conditions set forth in the offer to purchase dated 14 September 2023, (b) repay the US$65m drawn on the existing term loan facility dated 8 June 2020 (“2020 TL”), with cancellation of the remaining undrawn commitments, together with payment of associated fees, costs and expenses and (c) fund general corporate purposes. The New RCF will replace the Company’s existing and undrawn US$70m RCF dated 8 June 2020 (“2020 RCF”) in full.
The New Facilities feature a 1ppt tighter opening margin compared to the 2020 TL and 2020 RCF being refinanced, reflecting the diversification, increased hard-currency earnings and scale achieved by the Company over the past three years. The New TL also extends the average remaining life of the Company’s debt, supports proactively addressing the 2025 Senior Notes maturity and represents an expansion of Helios Towers’ banking group.