Liquid looking for USD150 million for network development

2 Sep 2014

Mauritius-based Liquid Telecom Group, a subsidiary of Econet Wireless Group, is seeking a five-year USD150 million loan by mid-September to fund developments for its international network, Global Capital reports. Standard Chartered is leading and fully underwriting the deal, which is understood to have seen interest from a number of existing banking relationships as well as other lenders looking into the region. The paper notes that the African loan market is expected to see an increase in demand from lenders as the conflict in Ukraine makes it more difficult for European financiers to find Russian borrowers. Parent company Econet Wireless Global recently closed its own USD150 million financing facility with the African Export-Import Bank, which it will use to expand into areas such as mobile banking and solar energy, and to refinance existing debt.

Mauritius, Liquid Telecom Group