AIRTEL REPAYS $505M DEBT A YEAR BEFORE DUE DATE

Airtel Africa repays $505m debt 1 year earlier

Airtel Africa Plc on Tuesday confirmed the completion of the early repayment of its 505 million dollars 5.125 per cent Guaranteed Senior Notes, originally due in March 2023 to investors, using cash balances available at Group level.

The telecommunication and mobile money service company disclosed this in a statement titled, “Senior Notes Repayment’ on the Nigerian Exchange Group Website.

It said that the company would save USD26.5million in future interest payments as a result of the early repayment.

”Settlement includes all outstanding accrued interest up to the Redemption date of 7 March 2022

“One-off costs of c.$17.6m for the applicable premium will be recorded within finance costs, while the group will save an aggregate of c.$26.5m future interest payments from early redemption

Since the time of its Initial Public Offer (IPO) in June 2019, Airtel Africa has successfully pursued a strategy of strengthening its balance sheet through both deleveraging and reducing US dollar debt exposure.

“Over this period the group has reduced its USD HoldCo debt by c.$1.7bn and improved its leverage ratio to 1.4x net debt to underlying EBITDA at December 2021.

”Following this early repayment of Senior Notes, the Group has $1bn of bonds remaining at Holdco level, due in May 2024” it said.(NAN

Comments

$100 MILLION STOLEN BY HACKERS IN CRYPTO HEIST

Hackers steal nearly $100m in Japan crypto heist IMAGE SOURCE, Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. Leading Japanese cryptocurrency exchange Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. The company announced that some of its digital currency wallets have been "compromised." It is the second major theft of cryptocurrencies to take place in recent days. Last week, digital token platform Poly Network was at the centre of a $600m heist. "WE ARE SORRY TO ANNOUNCE THAT #LIQUIDGLOBAL WARM WALLETS WERE COMPROMISED, WE ARE MOVING ASSETS INTO THE COLD WALLET," THE COMPANY SAID ON TWITTER. So-called 'warm' or 'hot' digital wallets are usually based online and designed to allow users to access their cryptocurrencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure.

Countries Accepting Nigerians Seeking Second Citizenship

Countries Accepting Nigerians Seeking Second Citizenship Nigerians are able to access the following citizenship and immigration programs: The Caribbean Second Citizenship Programs, Caribbean nations like St. Kitts & Nevis, St. Lucia and Grenada offer second citizenship through their respective Citizenship-by-Investment programs. A holder of one of these passports may travel visa free to about 135 countries, including all European Union countries, the UK, Russia, Turkey, Singapore and Hong Kong. Holding a citizenship from one of these respected countries may also make it easier to obtain residency status or study in other countries, and allows political security and makes it easier to open bank accounts in foreign jurisdictions. To qualify, an applicant needs to be of good reputation and make a government donation of at least $100,000 USD after approval of their citizenship application. Approval of a Citizenship-by-Investment application normally takes about 3 months, and all de

ACTRESS SENTENCED TO SIX MONTHS IN ISLAMIC SCHOOL

Sharia Court Sentences Kannywood Actress To Six Months In Islamic School The actress, Sadiya Haruna was handed the sentence on charges of “indecent social media postings.” Credit: Instagram | Sadiya Haruna The actress, Haruna, a resident of Kabuga Quarters was initially arrested on Friday by the Head of Surveillance Department of Kano State Hisbah Board, Malam Aliyu Usman. She was then detained in the custody of the Islamic police until early Monday when she was brought before the Sharia court sitting in Sharada area of the state. According to the First Information Report (FIR) filed against her, she was alleged to have consistently posted indecent videos in which she was dancing seductively and making sexual comments on her social media handles and YouTube channel. The accused person pleaded guilty to a one-count charge of obscenity and indecent act, which contradicts section 355 of Penal Code Law 2000. The presiding judge, Justice Ali Jibril Danzaki thereafter convicted her a

News, Events and People.

Search This Blog