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IHS secures USD 490 mln for expansion across Africa

2014-03-03 09:40:00| Telecompaper Headlines

(Telecompaper) African telecommunications infrastructure provider IHS has secured USD 490 million of equity and debt financing for expansion across the continent. The round expanded IHS's base of institutional shareholders and was priced at a premium to IHS's last funding in July 2013. Support from existing investors was combined with strong participation from Goldman Sachs, the IFC Global Infrastructure Fund and African Infrastructure Investment Managers. This funding round brings the total amount of capital raised by IHS to more than USD 1.5 billion over the last 12 months. IHS will use the proceeds to finance acquisitions, help its customers expand coverage and capacity by building new towers and continue investing in alternative energy. 

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Category:Telecommunications

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