By Christine Van Dusen
Atlanta, Oct. 12 – Nigeria’s IHS Holding – via IHS Netherlands Holdco BV – priced $800 million five-year notes (expected ratings: Ba3/B+/B+) at par to yield 9½% on Wednesday, a market source said.
The notes were initially talked at a yield in the mid-9% area.
Citigroup, Goldman Sachs and Standard Chartered were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to settle a tender offer and refinance bank loans, as well as for general corporate purposes.
IHS is an independent telecommunications tower company based in Lagos.
| Issuer: | IHS Netherlands Holdco BV
|
| Amount: | $800 million
|
| Maturity: | Oct. 27, 2021
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Goldman Sachs, Standard Chartered
|
| Coupon: | 9½%
|
| Price: | Par
|
| Yield: | 9½%
|
| Trade date: | Oct. 12
|
| Settlement date: | Oct. 27
|
| Expected ratings: | Moody's: Ba3
|
| S&P: B+
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-9% area
|
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