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.
“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.