Lagos, Nigeria — IFC, a member of the World Bank Group, announced a commitment of $200 million to help IHS Nigeria expand its tower portfolio and create mobile phone infrastructure that will improve mobilecall service quality for operators and consumers in Nigeria. IFC's financing is part of a $600m debt package raised by IHS from international and local lenders.
The transaction mobilizes significant resources from other investors, including a large Chinese bank. It includes $50 million for IFC's own account, $112.5 million from ICBC, the Industrial and Commercial Bank of China, and $37.5 million through the IFC Managed Co-Lending Portfolio Program, a new syndications platform that offers institutional investors the ability to passively participate in IFC's future senior loan portfolio. ICBC is China's and the world's largest bank by assets.
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