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MCB raises EUR19m for Intercable ICH

MCB Capital Markets, the investment banking subsidiary of the MCB Group, has completed a financing of EUR19m for Intercable ICH, a Canadian firm seeking opportunities in the internation

MCB Capital Markets, the investment banking subsidiary of the MCB Group, has completed a financing of EUR19m for Intercable ICH, a Canadian firm seeking opportunities in the international broadband market.

The financing includes a mezzanine facility of EUR13m from Absa Capital (a division of Absa Bank) and the Mauritius Commercial Bank and a private placement of EUR6m from Absa Capital, MCB Capital Partners and other Mauritian investors.

The private placement was undertaken concurrently in Canada at the level of Intercable ICH and in Mauritius via Intercable Africa, its Mauritius-based subsidiary.

‘We are really proud to get the support of two major partners for the implementation of our strategic plan,’ says Guy Laflamme, president and chief executive of Intercable ICH.

Marc Lagesse, chief executive of MCB Capital Markets, adds: ‘MCB Capital Markets is very pleased to have been involved in the structuring of this major regional deal involving partners from Canada, South Africa and Mauritius for an investment in an emerging sector in Reunion Island’

The proceeds of the financing will be used by Intercable to pursue the deployment of its broadband fibre-optic network in Reunion Island. Intercable intends to offer triple play services including high speed Internet, more than 75 TV channels and VoIP. The estimated total cost of the project is EUR100m.

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