HARARE, Apr. 19 (NewsDay Live) — Liquid Intelligent Technologies has retired its US$620 million five-year bond ahead of its September maturity, in a proactive refinancing that reduces leverage and extends its debt profile.
The group simultaneously issued a new five-year US$300 million bond, maintaining access to long-term funding while recalibrating its capital structure to better align with current investment requirements.
The transaction reflects a deliberate balance sheet strategy focused on lowering gearing, mitigating refinancing risk and preserving liquidity flexibility amid ongoing expansion.
Investor demand for the new notes was strong, with the issue more than twice oversubscribed — underscoring continued appetite for African telecoms and digital infrastructure credits, particularly those with diversified revenue bases and pan-African scale.
Liquid operates in 31 countries, with assets spanning fibre networks, satellite connectivity, cloud computing and cybersecurity — segments benefiting from sustained growth in data consumption and enterprise digitalisation.
- Govt must take heed: Businesses are struggling
- Telecoms giants walk tight rope amid power crisis
- Zim heading nowhere faster!
- Liquid Technologies hikes tariff
Keep Reading
The refinancing also reinforces Liquid’s access to international debt capital markets. Despite its private ownership, the company remains among a small cohort of African issuers able to consistently tap European markets, reflecting both operational scale and investor confidence in its credit profile.
Liquid is a wholly owned subsidiary of Cassava Technologies, founded by Zimbabwean entrepreneur Strive Masiyiwa, who separately controls the Econet Wireless.
