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Borrowings (Tables)

9 Months Ended

Sep. 30, 2025

Borrowings

Schedule of external debt classification


		September 30,		December 31,
		2025		2024
		$’m		$’m

Non‑current
Senior Notes		2,162.3		2,164.2
Debentures and bank term loans		975.3		1,055.0
		3,137.6		3,219.2
Current
Senior Notes		47.8		19.3
Debentures and bank term loans		84.5		102.6
Letters of credit		0.8		6.8
		133.1		128.7

Total borrowings		3,270.7		3,347.9

Schedule of debt by debt instrument

Principal

amount

Carrying amount

September 30,

Issue

Maturity

September 30,

December 31,

2025

Currency

date

date

Interest rate

2025

2024

$'m

$'m

Senior Notes

IHS Holding Limited

200.0M

USD

Nov'21

Nov'26

5.625%

203.2

200.8

IHS Holding Limited

500.0M

USD

Nov'21

Nov'28

6.250%

507.7

499.4

IHS Holding Limited

550.0M

USD

Nov'24

May'30

7.875%

557.1

545.4

IHS Holding Limited

650.0M

USD

Nov'24

Nov'31

8.250%

658.3

644.2

IHS Mauritius NG Holdco Limited

286.0M

USD

Sep'19

Sep'27

8.000%

283.8

293.7

Debentures

IHS Brasil - Cessão de Infraestruturas S.A.

—

BRL

Sep'23

Aug'31

3.10% + CDI

—

177.6

IHS Brasil - Cessão de Infraestruturas S.A.

—

BRL

Jun'24

Jun'32

2.80% + CDI

—

44.0

I-Systems Soluções de Infraestrutura S.A.

160.0M

BRL

Jun'24

May'32

2.10% + CDI

30.6

24.3

Bank Term Loans

IHS Côte d’Ivoire S.A.

7.6B

XOF

Dec'23

Dec'28

6.50%

13.2

14.4

IHS Côte d’Ivoire S.A.

60.2M

EUR

Dec'23

Dec'28

3.50% + 3M EURIBOR

69.2

75.5

IHS Holding Limited

200.0M

USD

Jun'25

Dec'27

4.85% + 3M SOFR

196.8

—

IHS Holding Limited

255.0M

USD

Oct'24

Oct'29

4.50% + 3M SOFR

256.9

256.6

IHS Holding Limited

3.2B

ZAR

Oct'24

Oct'29

4.50% + 3M JIBAR

190.8

175.2

IHS Towers South Africa Proprietary Limited

3.1B

ZAR

May'22

May'29

2.75% + 3M JIBAR

180.4

174.8

IHS Zambia Limited

47.5M

USD

Dec'20

Dec'27

5.00% + CAS + 3M SOFR

47.7

62.2

INT Towers Limited

—

NGN

Jan'23

Jan'28

2.50% + MPR

—

91.6

I-Systems Soluções de Infraestrutura S.A.

400.0M

BRL

Oct'22

Oct'30

2.45% - 2.50% + CDI

74.2

61.4

Revolving Credit Facilities and Overdraft ^(a)

IHS Holding Limited

300.0M

USD

Jun'25

Sep'28

3.50% + 3M SOFR

—

—

IHS Nigeria Limited

55.0B

NGN

Jan'23

Jan'26

2.50% + MPR

—

—

IHS Cameroon S.A.

10.0B

XAF

Sep'25

Aug'26

5.50%

—

—

Letters of Credit^(a)

IHS Nigeria

356.5M

USD

Feb'22

Sep'25

12.00% - 15.39%

0.8

6.8

3,270.7

3,347.9

(a)	Principal amount for revolving credit facilities, overdraft and letters of credit are the available facilities at September 30, 2025.