Liquid Telecom to raise $700m bond
Africa's Liquid Telecom is planning to raise $700m to reduce debt and to help its investment programme
A newly set up financial arm of Liquid Telecom, called Liquid Telecommunications Financing, has announced plans to raise a $700 million bond and long-term financing package.
The round of investment will help the group reduce the company’s debt and enable further growth. There is also hope that through its upcoming investment programme, to improve relations with its partners which are carriers and retailers. Since Liquid announced its plans, it has met selected investors in Europe, the US and Asia, press in Zimbabwe have reported.
“Today is another important step for Liquid Telecom as we continue our journey to bring high-speed connectivity to more of Africa. Through additional funding, we hope to be able to continue this period of accelerated growth for the group, enabling us to extend our network footprint across more of the continent,” Nic Rudnick, CEO of Liquid Telecom, told a Zimbabwe newspaper.