IHS Netherlands Holdco B.V.’s $800 Million eurobond offering


Aluko & Oyebode acted as Nigerian Legal Counsel to the Joint Lead Managers, Citibank Global Markets Limited, Goldman Sachs International and Standard Chartered Bank in connection with the US$800 Million eurobond issuance by IHS Netherlands Holdco B.V., the holding company of IHS Nigeria Limited, which is the largest mobile telecommunications infrastructure provider in Africa.

The Notes issued were guaranteed by IHS Nigeria Limited, IHS Towers NG Limited (formerly Helios Towers Nigeria Limited) and Towers Infrastructure Company Limited and the proceeds of the bonds will be used to repay existing debt obligations of IHS Nigeria Limited and IHS Towers NG Limited.

The transaction also incorporates the tender of the outstanding US$250m bond issued by IHS Towers Netherlands FinCo NG B.V. (formerly known as Helios Towers Finance Netherlands B.V.) which was acquired through the Helios Towers Nigeria Limited acquisition that was completed in June 2016.

This dynamic transaction is the largest high yield corporate bond ever issued in Africa and represents one of only two Eurobond transactions involving Nigerian corporates in 2016, despite the country’s current economic challenges.

The Aluko & Oyebode transaction team was led by a partner in the Capital Markets team, Ayodeji Oyetunde (Picture).

Involved fees earner: Ayodeji Oyetunde – Aluko & Oyebode;

Law Firms: Aluko & Oyebode;

Clients: Citigroup Global Markets Ltd; Goldman Sachs International; Standard Chartered Bank;