Published: January 19, 2012
Eaton Towers Ghana, an owner and operator of telecommunication sites, has raised US$30mn in its debut debt financing.
The five-year loan was provided by Standard Bank’s operations in Ghana and South Africa.
The funds will be used to upgrade the towers it operates under a site sharing and maintenance agreement with Vodafone Ghana. It will also fund the building of up to 300 additional wireless towers in Ghana.
Peter Lewis, Eaton Tower’s chief financial officer, said the strength of the company’s deal pipeline means this will be the first of several debt fundraisings.