WED, 22 JUNE, 2022-theGBJournal| Airtel Africa said its subsidiary, Bharti Airtel International (Netherlands) B.V. (BAIN), Tuesday, launched a cash tender offer to redeem up to $300m of its $1 billion of 5.35% Guaranteed Senior Notes due 2024 (‘Notes’).
The leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa said ‘’there is an early tender deadline of 5 July 2022 for Noteholders wishing to tender their Notes for preferential early tender consideration, otherwise the tender offer will expire on 19 July 2022, unless amended or extended by BAIN at its sole discretion.’’
The company said all Notes accepted for purchase will be cancelled ahead of their maturity in May 2024, and that BAIN reserves the right at its sole discretion to amend or waive any of the terms of the tender offer.
A further announcement will be made following completion of the tender offer.
‘’This early redemption will be made out of Group cash reserves and aligns with the continuation of our pursuit of a reduction of external foreign currency debt at Group level,’’ Airtel Africa said.
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