White & Case advises banks on Axian Telecom high yield bond and credit facilities

Global law firm White & Case LLP has advised the initial purchasers on Axian Telecom’s offering of US$600 million 7.250% Senior Notes due 2030 and the lenders on US$200 million (equivalent) credit facilities, consisting of a Term Loan Facility and a Revolving Credit Facility.

J.P. Morgan, Standard Bank, and Standard Chartered Bank acted as initial purchasers on the notes offering. Standard Bank, Standard Chartered Bank and The Mauritius Commercial Bank Limited acted as mandated lead arrangers and lenders on the Term Loan Facility. J.P. Morgan, Standard Bank and Standard Chartered Bank acted as mandated lead arrangers and lenders on the Revolving Credit Facility.

The proceeds of the notes will be used to refinance the company’s existing debts and for general corporate purposes.

Axian Telecom is a leading pan-African telecommunications services provider serving more than 40 million customers through a network of operations conducting business in Tanzania, Madagascar, Togo, Senegal, Comoros, Uganda and the Democratic Republic of the Congo, and via joint ventures in Réunion and Mayotte.

The White & Case team which advised on the transaction was led by partners Melissa Butler, James Greene and Claire Matheson Kirton (all London) and included counsel Bree Peterson (London) and associates Prema Govind-Hitti Marion Genova, Darcy Lubich and Nick Leavenworth (all Dubai), and Shushi Hovannisian and Jeffrey Cheung (both London).

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