<\/p>\n
Standard Bank has provided a $29 million (R475.33 million) social documentary credit facility to telecommunications infrastructure company Helios Towers to fund the procurement and importation of telecoms equipment across Africa.<\/p>\n
The facility, structured in line with the Loan Market Association\u2019s Social Loan Principles, will support Helios Towers\u2019 working capital needs and infrastructure expansion programme while providing payment certainty to suppliers.<\/p>\n
Read:
What billionaire Dangote can teach Africa about financing infrastructure
Standard Bank warns of flight from sovereign debt<\/p>\n
Standard Bank said the financing is meant to expand telecommunications infrastructure and improve digital connectivity in underserved and remote markets across the continent.<\/p>\n
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The transaction is the bank\u2019s first documentary credit facility structured under a sustainable finance framework.<\/p>\n
Helios Towers, which owns and operates telecommunications tower infrastructure across Africa, said the funding would support continued investment in tower expansion and network densification.<\/p>\n
\u201cReliable digital infrastructure is fundamental to Africa\u2019s future growth and development,\u201d Alex Carter, group finance director at Helios Towers, notes.<\/p>\n
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\u201cThis facility provides us with the flexibility and certainty needed to support our ongoing infrastructure investments while advancing our mission of expanding connectivity across the continent.\u201d<\/p>\n
Read:
Helios in talks with Africa mobile operators
Helios expanding mobile-phone tower business in South Africa
Soros-backed Helios Towers raises $364m in London IPO<\/p>\n
Benoit Samouilhan, global transaction banker at Standard Bank Corporate and Investment Banking, says the transaction combined a social documentary credit facility with a cross-border funding solution to support Helios Towers\u2019 expansion.<\/p>\n
#Standard #Bank #backs #Helios #Towers #29m #trade #finance #deal<\/p>\n","protected":false},"excerpt":{"rendered":"
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