White & Case advises European Bank for Reconstruction and Development on landmark €270 million Axian Telecom senior loan financing

Global law firm White & Case LLP has advised the European Bank for Reconstruction and Development (EBRD) on a landmark €270 million senior loan financing to Axian Telecom group (Axian Telecom), a leading telecommunications provider, to support the expansion of digital infrastructure and improve connectivity across Africa.

White & Case partner Claire Matheson Kirton, who led the Firm's deal team, said: "This landmark financing for Axian Telecom reflects EBRD's growing role in supporting digital infrastructure and connectivity across Africa and showcases the innovative use of local-currency financing and cross-border coordination in high-growth markets. Supporting both EBRD and Axian on EBRD's first investment in Senegal and one which is of such importance for the Bank, highlights White & Case's ability to deliver complex, multi-jurisdictional DFI financings under significant time pressure."

The transaction involved 21 obligors across 8 jurisdictions and was signed on 9 July 2026 and comprises two facilities. The committed facility of up to €170 million consists of a €100 million EBRD loan, a loan of up to €50 million to be placed with private sector investors, and a local-currency facility of up to €20 million equivalent in Kenyan shillings. In addition, an uncommitted facility of up to €100 million will support eligible future acquisitions by Axian Telecom and capital expenditure in selected EBRD countries of operation in sub-Saharan Africa.

This transaction incorporates a number of firsts and structurally notable features for EBRD. It is EBRD's first investment in Senegal and a landmark for the Bank in sub-Saharan Africa, as well as EBRD's first local-currency financing in sub-Saharan Africa through a Kenyan shilling tranche. It is also EBRD's first loan in sub-Saharan Africa utilizing a structure that mobilises private capital alongside EBRD's own balance sheet. The deal spans two high-growth African markets: Senegal, where it will support the expansion and modernisation of active 4G and 5G mobile networks, core infrastructure and fibre deployment, and Kenya, where it will support the modernisation of fibre infrastructure in one of East Africa's most competitive digital markets.

The White & Case team which advised on the transaction was led by partner Claire Matheson Kirton (London), and included associates Marion Genova (Dubai), Caglar Senol, Emil Ali and Joanna Lim (all London), with support from partners Melissa Butler and James Greene (both London).

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