Liquid Intelligent Technologies to launch US$700 million bond and term loan financing package
  • Financial

Liquid Intelligent Technologies to launch US$700 million bond and term loan financing package

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, HONG KONG, SINGAPORE, SOUTH AFRICA OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

Additional funds will support the group’s long-term vision of a more connected Africa


Liquid Intelligent Technologies Financing PLC, part of the leading pan-African telecoms group Liquid Intelligent Technologies, has today announced its intention to launch a US$700 million bond and term loan financing package to refinance the group’s existing debt and to support its growth strategy.

The funds from the new financing are intended to support Liquid Intelligent Technologies as it continues to rapidly scale and expand its network capabilities and service offering across Africa. Through a combination of organic growth and acquisition, Liquid Intelligent Technologies has built Africa’s largest independent fibre network, stretching over 50,000km and connecting more countries on a single network than any other.

The new financing package is also expected to help deliver long-term benefits to Liquid Intelligent Technologies’s growing number of enterprise, carrier and retail customers, which currently includes over 113,000 customers across 13 countries of operation. Liquid Intelligent Technologies serves businesses of all sizes through an extended service offering, which includes integrated software, cloud, hosting and connectivity capabilities.

“Today is another important step for Liquid Intelligent Technologies as we continue our journey to bring high-speed connectivity to more of Africa,” said Nic Rudnick, Group CEO, Liquid Intelligent Technologies. “Through additional funding, we hope to be able to continue this period of accelerated growth for the group, enabling us to extend our network footprint across more of the continent.”

Liquid Intelligent Technologies has mandated Joint Lead Managers and Joint Bookrunners to arrange a series of meetings with fixed income investors in Europe, the US and Asia commencing June 23, 2017.

A US$-denominated Regulation S / Rule 144A benchmark senior secured note offering will follow subject to market conditions. The proceeds of the issuance will be used for refinancing existing debt and general corporate purposes. The proposed senior secured notes are expected to be rated in line with the corporate ratings of Ba3 (stable) by Moody's, and B+ (stable) by Fitch. Relevant stabilisation regulations including FCA/ICMA apply.


The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any U.S. state securities laws, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No public offering of any securities referred to herein is being made in the United States.

This announcement may not be distributed, directly or indirectly, in or into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This announcement does not constitute or form part of an offer to sell or issue, or any solicitation of an offer to buy or subscribe for, any securities referred to herein in the United States or in any other jurisdiction. The offer and the distribution of this announcement and other information In connection with the offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other Information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement is directed only at (I) persons who are outside the United Kingdom or (ii) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Neither this announcement, nor any copy of it may be taken, transmitted or distributed, directly or indirectly, into Australia, Canada, Hong Kong, Japan, South Africa or Singapore or to any persons in any of those jurisdictions or any other jurisdictions where to do so would constitute a violation of the laws of such jurisdiction. The securities referred to herein have not been and will not be qualified under the applicable securities laws of Australia, Canada, Hong Kong, Japan, South Africa or Singapore and, subject to certain exceptions, may not be offered or sold within Australia, Canada, Hong Kong, Japan, South Africa or Singapore or to any national, resident or citizen of Australia, Canada, Hong Kong, Japan, South Africa or Singapore.

None the Joint Lead Managers and Joint Bookrunners or any of their respective subsidiary undertakings, affiliates or any of their respective directors, officers, employees, advisers, agents or any other person accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions in this announcement (or whether any information has been omitted from this announcement) or any other information relating to the company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

Forward-looking statements

This announcement contains statements that constitute forward-looking statements, beliefs or opinions, including statements relating to business, financial condition and results of operations of Liquid Intelligent Technologies. These statements may be identified by words such as °expectation", "belie', "estimate", "plan", "target", or "forecast" and similar expressions or the negative thereof; or by the forward-looking nature of discussions of strategy, plans or intentions; or by their context. All statements regarding the future involve known and unknown risks and uncertainties and various factors could cause actual future results, performance or events to differ materially from those described or implied in these statements. Such forward-looking statements are based on numerous assumptions regarding Liquid' present and future business strategies as well as the environment in which Liquid Intelligent Technologies expects to operate in the future. Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate and Liquid Intelligent Technologies does not accept any responsibility for the accuracy of the opinions expressed in this announcement or the underlying assumptions. Past performance Is not an indication of future results and past performance should not be taken as a representation that trends or activities underlying past performance will continue in the future. The forward-looking statements in this document speak only as at the date of this announcement and Liquid Intelligent Technologies and its affiliates expressly disclaim any obligation or undertaking to review or release any updates or revisions to these forward-looking statements to reflect any change in Liquid Intelligent Technologies's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this announcement or to update or to keep current any other information contained in this document or to provide any additional information in relation to such forward-looking statements, unless required to do so by applicable law.

Awards, Liquid sea

Liquid Intelligent Technologies wins GCCM award for connecting the unconnected

Read next