Helios Towers Africa

Digital communications infrastructure
Digital communications infrastructure
EAIF: US$30m

EAIF anchors successful bond raise for Helios Towers Africa (HTA).


  • Because of the global financial uncertainty caused by COVID-19, the African corporate debt capital markets were volatile and the bond amount that HTA intended to raise was considered challenging given the market circumstances.
  • HSES reporting to bondholders tends to be limited for listed instruments and not to the level EAIF tends to desire. It was clear that EAIF would require an enhanced reporting framework in order to participate in the bond.


  • EAIF acted as an anchor investor in the HTA bond. EAIF’s decision to participate could therefore be seen as a strong indicator on the general sentiment towards the company/markets in which it operates in. The company did consider the size of the bond in view of market volatility. EAIFs support enhanced the chance of success for a sizeable issuance.
  • Following dialogue with the Company, EAIF agreed a robust HSES reporting framework.In addition, given the strong emphasis placed by HTA on establishing a more robust HSES reporting framework, EAIF has been invited to participate in the development of this framework.


  • The issue was well subscribed and HTA were able to raise US$750 million. Consequently, EAIF scaled back its investment to US$30 million, having initially committed up to $60m, to allow
    more private investors to participate. EAIF’s anchor investment helped to keepthe African corporate debt capital market during volatile times.
  • The robust HSES reporting framework enables EAIF to actively monitor the performance of a listed instrument. This reporting framework has paved the way for additional capital market issuances and support. EAIF continues to support the expansion of HTA’s tower network throughout 4 African countries. These towers are essential for the roll out of digital communications services.

Applying for project support

If you are looking for debt finance for an infrastructure project in sub-Saharan Africa please talk to us.

EAIF mainly supports private sector infrastructure projects to create new or expand existing facilities. We welcome enquiries from companies in Africa and worldwide that want to grow their businesses in sub-Saharan Africa and share our commitment to the continent and its peoples. Enquiries are also welcome from  financial advisers and specialist consultants.