Commentary & Deal Flow

★★★ Helios Towers – USD 144A/RegS benchmark 5NC2 Bond ★★★

HTA Group, Ltd, an indirect wholly-owned subsidiary of Helios Towers Plc (the “Company”), a leading independent telecommunications infrastructure company in Africa and the Middle East rated Ba3 (Stable) by Moody’s, BB- (Stable) by S&P and BB- (Stable) by Fitch, has mandated BofA Securities, J.P. Morgan, Standard Bank and Standard Chartered Bank as Joint Global Coordinators, Absa and Rand Merchant Bank as Joint Bookrunners and Deutsche Bank, Jefferies as Co-Managers, to arrange a series of fixed income meetings and calls starting on Tuesday 24 March 2026. A 5NC2 Reg S / 144A benchmark senior guaranteed notes offering (the “New Notes Offering”) will follow, subject to market conditions. J.P. Morgan is coordinating logistics.

The Company has received interest from certain developmental financial institutions including British International Investment plc (“BII”), DEG-Deutsche Investitions-und Entwicklungsgesellschaft mbH (“DEG”) and the International Finance Corporation (“IFC”), for anchor orders of up to USD150m in the New Notes Offering, in the case of each institution, subject to the final terms and conditions of the offering and satisfaction of certain conditions precedent.

FCA/ICMA stabilisation.