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v3.24.3

Borrowings (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Borrowings. |
Schedule of external debt classification | ​
​ | ​ | ​ | ​ | ​
​ |  | September 30, | ​ | December 31,
​ | ​ | 2024 | ​ | 2023
​ | ​ | $’000 |  | $’000
​ | ​ | ​ | ​ | ​
Non‑current | ​ | ​ | ​ | ​
Senior Notes | ​ | 1,934,817 | ​ | 1,930,457
Bank borrowings | ​ | 1,419,945 | ​ | 1,126,239
​ | ​ | 3,354,762 | ​ | 3,056,696
Current | ​ |  | ​ |
Senior Notes | ​ | 22,708 | ​ | 26,912
Bank borrowings | ​ | 146,665 | ​ | 107,110
Bank overdraft | ​ | — | ​ | 675
Letters of credit | ​ | 7,623 | ​ | 319,454
​ | ​ | 176,996 | ​ | 454,151
​ | ​ | ​ | ​ | ​
Total borrowings | ​ | 3,531,758 | ​ | 3,510,847
Schedule of debt by debt instrument | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | September 30, | ​ | December 31,
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2024 | ​ | 2023
​ | ​ | Notional | ​ | ​ | ​ | Issue | ​ | Maturity | ​ | ​ | ​ | ​ | Carrying | ​ | Carrying
​ |  | amount |  | Currency |  | date |  | date |  | Interest rate |  | amount |  | amount
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $’000 | ​ | $’000
Senior Notes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IHS Holding Limited | ​ | 500.0M | ​ | USD | ​ | Nov'21 | ​ | Nov'26 | ​ | 5.63 | % | ​ | 506,809 | ​ | 498,920
IHS Holding Limited | ​ | 500.0M | ​ | USD | ​ | Nov'21 | ​ | Nov'28 | ​ | 6.25 | % | ​ | 506,991 | ​ | 498,635
IHS Netherlands Holdco B.V. | ​ | 940.0M | ​ | USD | ​ | Sep'19 | ​ | Sep'27 | ​ | 8.00 | % | ​ | 943,725 | ​ | 959,814
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debentures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​
IHS Brasil - Cessão de Infraestruturas S.A. | ​ | 1.2B | ​ | BRL | ​ | Sep'23 | ​ | Aug'31 | ​ | 3.10 | % + CDI | ​ | 220,416 | ​ | 252,341
IHS Brasil - Cessão de Infraestruturas S.A. | ​ | 300.0M | ​ | BRL | ​ | Jun'24 | ​ | Jun'32 | ​ | 2.80 | % + CDI | ​ | 56,165 | ​ | —
I-Systems Soluções de Infraestrutura S.A. | ​ | 160.0M | ​ | BRL | ​ | Jun'24 | ​ | May'32 | ​ | 2.10 | % + CDI | ​ | 29,961 | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank term loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​
IHS Côte d’Ivoire S.A. | ​ | 3.9B | ​ | XOF | ​ | Jun'22 | ​ | Jun'24 | ​ | 5.00 | % | ​ | — | ​ | 6,570
IHS Côte d’Ivoire S.A. | ​ | 4.6M | ​ | EUR | ​ | Jun'22 | ​ | Jun'24 | ​ | 3.00 | % + 3M EURIBOR | ​ | — | ​ | 4,841
IHS Côte d’Ivoire S.A. | ​ | 10.0B | ​ | XOF | ​ | Dec'23 | ​ | Dec'28 | ​ | 6.50 | % | ​ | 16,383 | ​ | —
IHS Côte d’Ivoire S.A. | ​ | 78.7M | ​ | EUR | ​ | Dec'23 | ​ | Dec'28 | ​ | 3.50 | % + 3M EURIBOR | ​ | 86,030 | ​ | —
IHS Holding Limited | ​ | 430.0M | ​ | USD | ​ | Oct'22 | ​ | Oct'25 | ​ | 3.75 | % + CAS + 3M SOFR | ​ | 432,838 | ​ | 370,935
IHS Holding Limited | ​ | 210.0M | ​ | USD | ​ | Mar'24 | ​ | Mar'26 | ​ | 4.50 | % + 3M SOFR | ​ | 206,298 | ​ | —
IHS Kuwait Limited | ​ | 16.9M | ​ | KWD | ​ | Apr'20 | ​ | Apr'29 | ​ | 2.00 | % + CBK Discount Rate | ​ | 56,070 | ​ | 61,354
IHS Towers South Africa Proprietary Limited | ​ | 3.4B | ​ | ZAR | ​ | May'22 | ​ | May'29 | ​ | 2.75 | % + 3M JIBAR | ​ | 194,546 | ​ | 185,404
IHS Zambia Limited | ​ | 66.5M | ​ | USD | ​ | Dec'20 | ​ | Dec'27 | ​ | 5.00 | % + CAS + 3M SOFR | ​ | 67,003 | ​ | 81,297
INT Towers Limited | ​ | 144.4B | ​ | NGN | ​ | Jan'23 | ​ | Jan'28 | ​ | 2.50 | % + MPR, 18 - 27% collar | ​ | 91,311 | ​ | 186,302
I-Systems Soluções de Infraestrutura S.A. | ​ | 400.0M | ​ | BRL | ​ | Oct'22 | ​ | Oct'30 | ​ | 2.45 | - 2.50% + CDI | ​ | 77,704 | ​ | 84,305
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revolving credit facilities and overdrafts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​
IHS Holding Limited | ​ | 300.0M | ​ | USD | ​ | Mar'20 | ​ | Oct'26 | ​ | 3.00 | % + CAS + 3M SOFR | ​ | — | ​ | —
IHS Nigeria Limited | ​ | 51.0B | ​ | NGN | ​ | Jan'23 | ​ | Jan'26 | ​ | 2.50 | % + MPR, 18 - 27% collar | ​ | 31,885 | ​ | —
IHS Towers South Africa Proprietary Limited | ​ | 350.0M | ​ | ZAR | ​ | Oct'23 | ​ | Oct'24 | ​ | PRIME minus 0.25% | ​ | — | ​ | 675
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Letters of credit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IHS Nigeria | ​ | 356.5M | ​ | USD | ​ | Feb'22 | ​ | Dec'24 | ​ | 12.00 | - 15.75% | ​ | 7,623 | ​ | 319,454
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3,531,758 | ​ | 3,510,847
All Group borrowings (except letters of credit) contain customary information, customary affirmative and negative covenants, customary events of default and financial covenants (generally tested quarterly, with some exceptions). Mandatory cancellation and/or full or partial repayment may be required in certain circumstances. Loan facilities may also be voluntarily prepaid and/or cancelled by giving notice. Many of our borrowings are either guaranteed or secured.

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