Eaton Towers, the African infrastructure management company, has secured USD60 million in debt financing from Standard Bank Group, acting through Stanbic Uganda, and the International Finance Corporation (IFC), to build and develop new and existing cell towers across Uganda. The agreement marks Eaton's second round of bank debt funding this year, following a USD30 million debt facility from Standard Bank Group, acting through Stanbic Bank Ghana and the Standard Bank of South Africa, earlier in the year. It also follows a USD150 million equity investment from Capital International Private Equity Funds (CIPEF), a private equity investor that focuses on emerging markets, which was secured by Eaton Towers in September 2011.
Taken from:
OVETEL Eaton secures USD60m financing to develop Ugandan business and fund Ward deal
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