Airtel Africa, the provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, confirmed that it has completed the early repayment of its USD 505 million 5.125% Guaranteed Senior Notes, using cash balances available at the Group level.
The telco focused on Africa explained that the notes were originally due in March 2023 and as a result of early repayment the company would save $26.5 million in future interest payments.
With this repayment, Airtel Africa now has $1 billion worth of bonds remaining, due May 2024, said a statement from the company.
“Further to the announcement of 4 February 2022, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today confirms that it has completed the early repayment of its $505m 5.125 percent Guaranteed Senior Notes, originally due in March 2023, using cash balances available at Group level,” Airtel stated.
The company did explain, however, that it was committed to strengthening its balance sheet by deleveraging and reducing its dollar debt exposure. The telco further explained that it has so far successfully reduced its HoldCo (USD) debt by $1.7 billion and improved its leverage ratio.