Stanbic Bank Ghana Limited and The Standard Bank of South Africa (Standard Bank) acted as mandated lead arrangers for a USD17 million increase of an existing term loan facility to Eaton Towers Ghana Limited (ETGL).
The proceeds from the upsized facility will be used to finance required CAPEX for the company's accelerated tower portfolio build-out. Standard Bank was entrusted with the roles of facility agent, security agent and sole lender for this facility.
Previously, Standard Bank provided a USD82 million dual-currency secured term loan for the company’s operational and CAPEX requirements. The additional funding was required for accelerated business growth which brings Standard Bank’s total exposure to USD97 million.
Standard Bank's cross-border funding origination and structuring capabilities were employed to provide best-in class execution for Eaton Towers Ghana Limited.
ETGL was founded in 2008 and commenced operations in 2011 as an independent telecom infrastructure-sharing company. The company is currently one of the leading telecom tower companies in Ghana.
The company builds, owns and manages telecommunication towers in Ghana serving all the major mobile network operators across the country.
ETGL is part of the Eaton Towers group, a leading African infrastructure sharing company, owning and managing towers across Africa. Today, ETGL is currently the second largest and one of the most reliable and innovative telecom tower companies in Ghana and Standard Bank is proud to support the company’s business growth.
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