EDOTCO Group, via its subsidiary EDOTCO Investments (Labuan) Ltd (“EDOTCO Labuan”), has successfully completed a Syndicated Term Facility of up to USD700.0 million (“Syndication”). The completion was commemorated at a signing ceremony yesterday.

The Facility was structured on a multi tranche basis for the purpose of refinancing and for general corporate & investment purposes. OCBC Bank (Malaysia) Berhad (“OCBC Bank”) acted as the Lead Coordinator, Mandated Lead Arranger and Facility Agent for the Syndication. DBS Bank Ltd. (“DBS”) and MUFG Bank, Ltd. Labuan Branch (“MUFG”) also participated in the Syndication as Mandated Lead Arrangers for the Facility.

EDOTCO Group is the first and leading regional integrated telecommunications infrastructure services company in Asia to provide end-to-end solutions in the tower services sector from tower leasing, co-locations, build-to-suit, energy and transmission to operations and maintenance. It operates and manages a regional portfolio of over 58,000 towers across Malaysia, Indonesia, Bangladesh, Cambodia, Sri Lanka, Pakistan, Philippines, Myanmar, and Laos and is the 6th largest telecommunications towers company globally based on total tower sites owned and managed. The company strives to deliver outstanding performance in telecommunications infrastructure services and solutions and was awarded the Frost & Sullivan 2021 Asia Pacific Telecoms Tower Company of the Year Award for its exemplary business growth and performance.

Commenting on the transaction, Ms Tan Ai Chin, Managing Director, Senior Banker and Head of Investment Banking, OCBC Bank, said: “We are honoured to be entrusted with the lead role as Lead Coordinator & Mandated Lead Arranger for this Syndication after the successful emplacement of EDOTCO Malaysia’s maiden RM1.4 billion Sukuk issuance in September 2022 for which OCBC Bank acted as the Principal Adviser & Sustainability Structuring Adviser.

(L-R) Fumio Takamatsu, Country Head of Malaysia, MUFG Bank (Malaysia) Berhad; Annis Sheikh Mohamed, Chief Financial Officer, EDOTCO Group Sdn Bhd; Mohamed Adlan Ahmad Tajudin, Chief Executive Officer, EDOTCO Group Sdn Bhd; Tan Ai Chin, Managing Director, Senior Banker and Head of Investment Banking, OCBC Bank (Malaysia) Berhad; Benson Ow Yeang, Head of Business Development, DBS Bank Ltd, KL Office

“The successful financial close of this Syndication further reinforces our position as the top Mandated Lead Arranger in the Bloomberg league table for loan syndication in Malaysia. We are honoured to be a strategic financial partner in supporting EDOTCO Group’s regional M&A and path of expansion over the last decade, to become one of the largest integrated telecommunications infrastructure services companies in Asia.”

EDOTCO Group’s Chief Executive Officer, Encik Mohamed Adlan Ahmad Tajudin said: “The fundraising exercise is primarily to fund EDOTCO Group’s recent acquisition in the Philippines whereby EDOTCO Group’s wholly owned subsidiary in the Philippines has entered into a sale and purchase agreement for the acquisition of 2,973 telecom towers with subsidiaries of PLDT, Inc, Philippines’ largest fully integrated telecommunications company. The successful closure of this transaction serves as a testament to the strong and unwavering support and confidence that the banking group have in EDOTCO Group. We will continue to strengthen our financial position with long-term financing while ensuring a balanced debt maturity profile.”