Eastcastle DRC telecom tower infrastructure

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The project involves the acquisition and construction of a portfolio of Built-To-Suit (BTS) towers and transmission towers in Democratic Republic of Congo (DRC) which will be leased to mobile network operators in the country. Sponsor is Eastcastle Infrastructure, a platform company that owns, operates, and develops shared telecom tower infrastructure in African countries. The company is part of Eastcastle Holdings Limited, which is owned 35% by Africa Infrastructure Investments Manager, 35% by Adenia Partners, 20% by the IFC and 10% by the company’s founders. The total project cost is estimated at $208 million to be financed with a combination of debt and equity. IFC is providing a $30 million loan from its own account and has mobilized an additional $30 million from the Emerging Africa Infrastructure Fund (EAIF). The Standard Bank of South Africa provided an additional $34 million loan. Financial close was achieved on 23 June, 2023. https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=27628 https://disclosures.ifc.org/project-detail/SII/46563/eastcastle-debt https://www.eaif.com/eaif-provides-30-million-commitment-to-eastcastle-infrastructure/