France’s Proparco Anchors $1.2 Billion Bond for US-Listed IHS

Development finance institution Proparco has provided a €100 million cornerstone investment

Proparco’s participation attracted other development finance institutions and impact investors

French development finance institution Proparco has anchored a $1.2 billion bond issuance by IHS Towers, a US-listed telecom infrastructure provider. Proparco, a long-standing partner of IHS Towers, provided a €100 million cornerstone investment, which helped attract other development finance institutions and impact investors to the bond. The bond issuance, which was oversubscribed, will be used to refinance existing debt and fund IHS Towers’ expansion plans in Africa and Latin America. The bond has a 10-year maturity and a coupon rate of 4.75%. IHS Towers is one of the largest independent telecom infrastructure providers in the world, with over 30,000 towers in 11 countries. The company’s operations are focused on Africa and Latin America, where it provides telecom infrastructure to mobile network operators. Proparco’s investment in IHS Towers is aligned with its mandate to support sustainable development in emerging markets. The bond issuance will help IHS Towers to expand its operations in Africa and Latin America, which will lead to increased access to mobile connectivity for people in these regions. “We are pleased to support IHS Towers in its mission to provide affordable and reliable telecom infrastructure in emerging markets,” said Proparco’s CEO, Gregory Clemente. “This bond issuance will help IHS Towers to expand its operations and reach more people in need of mobile connectivity.” IHS Towers’ CEO, Sam Darwish, said: “We are grateful for Proparco’s continued support. Their investment in our bond issuance is a testament to our strong track record and our commitment to sustainable development in emerging markets.” The bond issuance is a significant milestone for IHS Towers, and it will help the company to continue to grow its business and expand its reach in emerging markets.