By Anthony O. Goriainoff

 

Airtel Africa PLC said Wednesday that it has signed a $125 million revolving credit facility with Citi, and that it will use the funds to support operations and investments at four of its subsidiaries.

The Africa-focused telecom and mobile money-services provider said the facility was in line with its strategy to raise debt in its local operating companies, and that it has a tenor up to September 2024.

"The facility provides potential interest rate savings in exchange for achieving social impact milestones relating to digital inclusion and gender diversity, with a focus on rural areas and women," the company said.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

August 10, 2022 02:41 ET (06:41 GMT)

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