Liquid Intelligent Technologies Secures Strong Demand for $300 Million Bond

Liquid Intelligent Technologies recently closed a $660 million debt financing round, including an oversubscribed $300 million Eurobond. The bond's 2.5x oversubscription highlights investor confidence in Africa's digital infrastructure. The company, part of Cassava Technologies, used the funds for debt paydown and refinancing, strengthening its financial positioning.

Listed on Euronext Dublin and issued under Rule 144A/Regulation S, the bond was a key component of Liquid's financial strategy. The company's 115,000-kilometer fibre network, crossing over 25 countries, and its growth in cloud and cybersecurity sectors, make it appealing to investors. This large-scale demand amid challenging market conditions demonstrates significant institutional investor interest.

Accompanied by syndicated ZAR and USD loans, Liquid's strategy provides a currency hedge against South African revenues. The engagement of several leading development finance institutions and improved ratings from Fitch and Moody's further suggest strong confidence in Liquid's financial health and Africa's digital growth potential.