Advisory by our law firm to banks concerning high yield bond and credit facilities in Axian Telecom.
White & Case LLP Advises on $800 Million Financing for Axian Telecom
White & Case LLP, a global law firm, has played a significant role in advising on the financing of Axian Telecom, a leading pan-African telecommunications services provider. The firm represented the initial purchasers (buyers) on Axian Telecom’s issuance of US$600 million 7.250% Senior Notes due 2030 and also advised the lenders on the US$200 million credit facilities.
The bond issuance, structured and led by J.P. Morgan, Standard Bank, and Standard Chartered Bank, was advised by Latham & Watkins, while White & Case provided comprehensive legal counsel to the banks and purchasers involved in the transaction. The bond issuance and credit facilities were properly structured and compliant, ensuring a smooth process for all parties.
The proceeds of the notes will be used to refinance Axian Telecom's existing debts and for general corporate purposes. Axian Telecom serves more than 40 million customers through a network of operations in Tanzania, Madagascar, Togo, Senegal, Comoros, Uganda, the Democratic Republic of the Congo, and via joint ventures in Reunion and Mayotte.
Melissa Butler, James Greene, and Claire Matheson Kirton, all based in London, led the White & Case team that advised on the transaction. The team members advised on various service areas, including Capital Markets, Debt Finance, Western Europe, Middle East, United Kingdom, and UAE. Bree C. Peterson, Prema Govind-Hitti, Marion Genova, Darcy Lubich, and Nick Leavenworth, all based in Dubai, and Shushi Hovannisian and Jeffrey Cheung, both based in London, were also part of the White & Case team.
J.P. Morgan, Standard Bank, and Standard Chartered Bank acted as initial purchasers on the notes offering and as mandated lead arrangers and lenders on the Revolving Credit Facility. The Term Loan Facility was led by Standard Bank, Standard Chartered Bank, and The Mauritius Commercial Bank Limited, acting as mandated lead arrangers and lenders.
White & Case's expertise in Media, Technology, Capital Markets, Financial Restructuring and Insolvency, Financial Institutions, Debt Finance, and various other service areas made them an ideal choice for advising on this significant financing deal for Axian Telecom.
- White & Case LLP, known for its extensive expertise in various service areas, acted as the legal counsel for the initial purchasers and lenders in the financing of Axian Telecom, a leading pan-African telecommunications services provider.
- axian Telecom's issuance of US$600 million 7.250% Senior Notes due 2030 and US$200 million credit facilities were advised on by White & Case LLP, while Latham & Watkins advised the lead banks for the bond issuance.
- White & Case's London-based partners Melissa Butler, James Greene, and Claire Matheson Kirton led the team that provided comprehensive legal counsel across Capital Markets, Debt Finance, Western Europe, Middle East, United Kingdom, and UAE service areas.
- J.P. Morgan, Standard Bank, and Standard Chartered Bank were the initial purchasers for the notes offering and the mandated lead arrangers and lenders for the Revolving Credit Facility, with other banks like The Mauritius Commercial Bank Limited participating as well.
- The bond proceeds will be utilized for refinancing Axian Telecom's existing debts and meeting general corporate purposes, serving more than 40 million customers through its extensive network in multiple African countries.
- As a global law firm with strong abilities in Media, Technology, Capital Markets, Financial Restructuring and Insolvency, Financial Institutions, Debt Finance, and other service areas, White & Case LLP proved to be an ideal partner for this significant financing deal for Axian Telecom.
