Cases & Deals

Celtel obtains financing for operating companies

Clients Celtel International B.V.

Jones Day assisted Celtel International B.V., a Dutch holding company for GSM cellular operations, in connection with the $270 million financing for five operating companies, including Celtel Congo-DRC sprl, Celtel Madagascar SA, Celtel Malawi Ltd., Celtel Sierra Leone Ltd and Celtel Uganda Ltd. The Mandated Arranger was International Finance Corporation (IFC). DEG and PROPARCO provided parallel loans. Syndicated members who participated in the IFC B-Loan included Emerging Africa Infrastructure Fund, Investec, FMO, Nedbank, Rand Merchant Bank and Cordiant/IFPT Trust.