Airtel Africa inks $125-mn credit facility with Citi to back investments in four units

Kolkata: Airtel Africa has inked a $125 million revolving credit facility with US banking major, Citi, to support operations and investments in four of its subsidiaries in the continent.

“The facility is in line with our strategy to raise debt in our local operating companies and will include both local currency and US dollar-denominated debt,” Bharti Airtel’s Africa arm said in a statement Wednesday.

Airtel Africa added that the revolving credit facility has a tenor up to September 2024 and 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, and aligning with the group’s sustainability strategy, launched in October 2021.