Nigeria's IHS adds to long end in dual tranche refi

Cables 230x150
By Lewis McLellan
11 Sep 2019

IHS, the Nigerian telecom towers group, hit screens on Wednesday for a dual tranche bond. It received strong demand and the leads were able to tighten the spread and add an extra $300m to the longer tranche.

The borrower printed $500m of long five year paper with a two year call and $800m of eight year non-call three notes.

Citi, Goldman Sachs and Standard Chartered were global coordinators, with ABSA Bank, JP Morgan and Rand Merchant Bank as bookrunners.

Initial price thoughts were ...

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