Nigerian tycoon Temitope Lawani’s Helios Towers eyes $500 million bond to refinance debt

Helios Towers, the African and Middle Eastern telecom infrastructure group backed by Nigerian private-equity executive Temitope Lawani, is seeking up to $10 million from the International Finance Corporation (IFC) as an anchor investment in a planned $500 million bond issuance to refinance maturing debt and support general corporate purposes.

The proposed investment, disclosed by the IFC on September 1, 2026, forms part of a broader financing that will help the tower operator refinance a convertible bond and term loans maturing in 2027 and 2028, respectively.

IFC to anchor $500 million bond

The IFC plans to subscribe for up to $10 million of the London-listed tower operator, Helios Towers’ March 2026 bond issuance, alongside other development finance institutions.

The proposed investment does not include funding from the IFC’s Private Sector Window, while the final IFC commitment and other co-financing amounts will be updated when the transaction reaches financial close.

The financing is intended to strengthen Helios Towers’ balance sheet by refinancing near-term obligations while providing capital for general corporate needs.

Helios Towers operates 14,000 sites across nine countries

Helios Towers owns and operates more than 14,000 telecommunications sites across nine countries, including the Democratic Republic of Congo, Ghana, Madagascar, Malawi, Oman, the Republic of Congo, Senegal, South Africa and Tanzania.

The company provides shared tower infrastructure to mobile network operators, enabling them to expand network coverage without having to develop and operate extensive passive infrastructure independently.

The proposed refinancing is therefore expected to free up cash that can be redirected toward expanding mobile network capacity and coverage through new tower sites and additional tenants.

Financing aims to expand mobile connectivity

The IFC considers the proposed investment an extension of its 2024 participation in Helios Towers’ bond financing and will not assign it a separate Anticipated Impact Measurement and Monitoring (AIMM) score.

The development impact is expected to build on the previous investment, which received an AIMM rating of “Good” with a score of 52.

The projects seek to improve access to quality mobile connectivity for individuals and businesses by supporting the expansion of network capacity and coverage.

A maturing telecom infrastructure play

Founded in 2009, Helios Towers has steadily evolved into one of Africa and the Middle East’s most prominent independent telecom infrastructure operators, with a growing footprint across multiple high-growth markets. Helios Towers operates mobile tower and passive telecommunications infrastructure across Africa and the Middle East, providing network infrastructure to mobile network operators under long-term contracts.

The financing also aims to strengthen competition in mobile connectivity markets by supporting tower sharing and creating a more level playing field among network operators, particularly in Senegal and Malawi, where tower colocation remains relatively underdeveloped and mobile markets are more concentrated. For Helios Towers, the proposed bond financing could provide greater financial flexibility while supporting continued investment in telecommunications infrastructure across its African markets.