SMILE TELECOMS HOLDINGS ENTERS NEW ERA WITH APPROVED RESTRUCTURING PLAN – FRESH MONEY

Posted on: 07 April 2021

SMILE TELECOMS HOLDINGS ENTERS NEW ERA WITH APPROVED RESTRUCTURING PLAN – FRESH MONEY

Issued: April 1st, 2021, London, England

Smile Telecoms Holdings Ltd., a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo, announced today, March 30th, 2021, that its RP (Restructuring Plan) has been approved and agreed with the lenders.

This debt restructuring plan sees an injection in fresh money funding from Smile’s majority shareholder, the Al Nahla, and rescheduling on debt repayment until post-March 2022.

The fresh injection of $51m in funding for Operations will further enhance Smile’s position in its respective markets and energize Smile’s operations and support efforts towards achieving better performance.

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