Pan-African internet provider, Liquid Telecom, said it plans to launch a $700 million bond and a long term financing package. The two fundraising processes will help the group reduce its debt and support its growth strategy. It is Liquid Telecom’s finance arm, Liquid Telecommunications Financing Plc, which will carry out the operations.

Since last June 23, firms selected by Liquid Telecom have been meeting with investors in Europe, US and Asia. “Today is another important step for Liquid Telecom as we continue our journey to bring high-speed connectivity to more of Africa. Through additional funding, we hope to be able to continue this period of accelerated growth for the group, enabling us to extend our network footprint across more of the continent,” said Nic Rudnick, CEO of Liquid Telecom.

The firm currently owns more than 50,000km of optic fiber which it says to be Africa’s largest independent fiber optic network. Present in 13 countries, Liquid Telecom, hopes, through its upcoming investment programme, to improve relations with its partners which are carriers and retailers.