Browsing: Marcia Ashong

Three significant news items went on the global wire on 25^th February 2021 as follows;

1. Liquid Telecom, a member of the Econet Group that has laid more than 70,000km of fiber optic cable across Africa[1], raised $840M financing package (US$620M bond and a US$220M equivalent term loan in Rand). This was Liquid Telecom’s second bond issue and it was 5.5 times oversubscribed with JP Morgan Chase & Co, Standard Chartered Plc and Standard Bank Group Ltd as joint global bookrunners[2].
2. Convergence Partners, a leading Pan African Private Equity fund[3] entered into an agreement with Nasdaq listed Inseego (INSG) to acquire 100% of their subsidiary Ctrack’s operations in Africa and the Middle East[4].
3. Ecobank Nigeria, the largest country operations of Ecobank Transnational Incorporated (ETI), issued a London listed $300M bond that was 3 times oversubscribed[5] and drew significant international