Offshore law firm Appleby has advised Axian Telecom in relation to the debut offering of USD420 million 7.375% Senior Notes due 2027, that have been listed on the International Stock Exchange (TISE).
Axian Telecom is a pan-African provider of telecommunications, mobile money services and digital infrastructure.
The provision of new financing will allow Axian Telecom to expand its footprint through increasing access to affordable mobile and data services by improving digital access and thus pursuing its strategy of inclusion in the telecom value chain for customers, extending access in rural regions and lower-income demographics. The order book was eventually 2.2x oversubscribed.
This deal paves the way for other African champions access international Debt Capital Markets, in order to mobilise investments that will benefit the continent and its people.
The deal was a multi-jurisdictional transaction, and the Appleby team comprised of Group Partner Christophe Kalinauckas, Senior Associate Chris Smedley and Paralegal Sarah McDonald.
Group Partner Christophe Kalinauckas (pictured) commented: ‘We are pleased once again to have acted as a facilitator for listings on The International Stock Exchange in what was, for Axian , an important development for its expansion into the international Debt Capital Markets.
“We assist domestic and international entities looking for a primary or secondary listing on TISE. Our listings team is committed to delivering a highly professional and integrated service, coordinating the listing process and supporting the issuer through their application. We also act as our client’s ongoing sponsor and assist them in meeting their continuing obligations as a listed issuer on the exchange.”
TISE is a regulated marketplace from within the European time zone but outside the European Union. TISE is a ‘Recognised Stock Exchange’ by UK HM Revenue & Customs. There are more than 3500 securities listed on TISE currently. The majority of listings on TISE are for specialist debt securities (including Eurobonds and High Yield Bonds) but TISE can also list other types of securities, such as Green Bonds, REITs, other investment vehicles and equity listings.