Liquid Term Loan 2

pending

The Project aims to support Liquid Telecom Holding Limited (“Liquid” or the “Company”) at raising US$220 million in ZAR equivalent to be borrowed by their South African subsidiary Liquid Telecom South Africa (“LTSA”). IFC is providing up to ZAR 1,029 million as part of the Company's effort to strengthen its balance sheet structure. This will include the refinancing of Liquid’s existing ZAR debt and drawn portion of the US$ revolving credit facility, extending tenors and moving away from a single maturity, as well as potentially repurchasing a portion of its bond (the “Project”). The Project is taking place in a context where Liquid is undergoing a capital rebalancing exercise. Liquid is a strong Telco partner in South Africa and across the African continent. Since its establishment in 2004, Liquid has anchored the development of the broadband market in Africa with its presence across the region. The Project will help ensure the continuity of Liquid’s endeavor to bridge the connectivity gap in Africa and enhance the resilience of the fixed broadband market in its countries.