Telecom Tower Operator IHS Holding Ltd. Proposed Senior Unsecured Notes Rated 'B+' - S&P Global Ratings’ Credit Research

Telecom Tower Operator IHS Holding Ltd. Proposed Senior Unsecured Notes Rated 'B+'

Telecom Tower Operator IHS Holding Ltd. Proposed Senior Unsecured Notes Rated 'B+' - S&P Global Ratings’ Credit Research
Telecom Tower Operator IHS Holding Ltd. Proposed Senior Unsecured Notes Rated 'B+'
Published Nov 12, 2024
3 pages (1689 words) — Published Nov 12, 2024
Price US$ 150.00  |  Buy this Report Now

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Abstract:

LONDON (S&P Global Ratings) Nov. 12, 2024--S&P Global Ratings today said it assigned its 'B+' issue rating to IHS Holding Ltd.'s proposed US$1 billion senior unsecured notes. Emerging market-focused telecom tower operator IHS Holding Ltd. (IHS) intends to issue the proposed notes to repay its $190 million bilateral loan and repurchase a portion of its senior unsecured notes maturing in 2026 and 2027 through a tender offer. The company will fully repay the $190 million bilateral loan at the group level (IHS Holding), while the 2026 and 2027 senior unsecured notes will be partially repaid through a tender offer for $250 million of the $500 million in IHS Holding's 2026 notes and $475 million of the $940 million in IHS

  
Brief Excerpt:

...November 12, 2024 LONDON (S&P Global Ratings) Nov. 12, 2024--S&P Global Ratings today said it assigned its 'B+' issue rating to IHS Holding Ltd.'s proposed US$1 billion senior unsecured notes. Emerging market-focused telecom tower operator IHS Holding Ltd. (IHS) intends to issue the proposed notes to repay its $190 million bilateral loan and repurchase a portion of its senior unsecured notes maturing in 2026 and 2027 through a tender offer. The company will fully repay the $190 million bilateral loan at the group level (IHS Holding), while the 2026 and 2027 senior unsecured notes will be partially repaid through a tender offer for $250 million of the $500 million in IHS Holding's 2026 notes and $475 million of the $940 million in IHS Netherlands Holdco B.V.'s 2027 notes (the holding company for Nigerian operations). While we consider the transaction to be leverage neutral, the pro forma capital structure will benefit from longer-dated debt maturities. The issuance will take place across...

  
Report Type:

Ratings Action

Ticker
0616714D@MP
Issuer
IHS Holding Ltd.
Sector
Global Issuers
Region
Europe, Middle East, Africa
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Telecom Tower Operator IHS Holding Ltd. Proposed Senior Unsecured Notes Rated 'B+'" Nov 12, 2024. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Telecom-Tower-Operator-IHS-Holding-Ltd-Proposed-Senior-Unsecured-Notes-Rated-B-3281628>
  
APA:
S&P Global Ratings’ Credit Research. (). Telecom Tower Operator IHS Holding Ltd. Proposed Senior Unsecured Notes Rated 'B+' Nov 12, 2024. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Telecom-Tower-Operator-IHS-Holding-Ltd-Proposed-Senior-Unsecured-Notes-Rated-B-3281628>
  
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