Global law firm Clifford Chance has advised the syndicate of underwriters and dealer managers led by Citi, Goldman Sachs, Rand Merchant Bank and Standard Chartered Bank on a new bond issuance, two tender offers and a consent solicitation in tandem for the IHS Group.
The transaction was a successful dual-tranche offering of US$550 million 7.875% senior notes due 2030 and US$650 million 8.250% senior notes due 2031 by IHS Holding Limited (together with its subsidiaries), and a concurrent cash tender offer and consent solicitation exercise with respect to the IHS Group’s existing senior notes due 2026 and 2027.
The IHS Group is one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count. Clifford Chance has also acted for the underwriters on the IHS Group’s previous financing exercises.
Clifford Chance’s cross-border team was led by London-based high yield partner, Jill Concannon with key transaction support provided by Yash Ranade (Senior Associate), Garo Yaghsezian (Associate) and Aritra Chamak Saha (Law Clerk). Amsterdam-based finance partner Jurgen van der Meer provided Dutch law advice and was supported by Dewi Walian (Counsel), Marina Sarkisjan (Senior Associate) and Dounia Endlich (Associate).
