November 28, 2022

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MTN Nigeria seeks N200bn Bond Issuance Programme


MTN Nigeria Communications Plc has utilized to the Securities and Change Fee in respect of the registration of a brand new N200 billion Bond Issuance Programme.

This was contained in a disclosure filed to the trade on MTN Nigeria Communications Plc to register a follow-on N200 billion Bond Issuance Programme.

The corporate mentioned the proceeds of the brand new bond issuance might be used for capital expenditure, working capital administration and basic company goal.

The corporate said, “MTN Nigeria Communications Plc has utilized to the Securities and Change Fee in respect of the registration of a brand new N200 billion Bond Issuance Programme (Second Bond Issuance Programme).

“This second Bond Issuance Programme is a follow-on to the profitable N200 billion debut Bond Issuance Programme in 2021 below which the corporate issued the N110 billion 13.00 per cent 7-year collection I bond due by 2028 and N90 billion 12.75 per cenrt 10-year collection II bonds due 2031.

The proceeds of the bond issuance might be used for capital expenditure (community enlargement), working capital administration and basic company goal.

“The corporate will resolve on issuance below the second Bond issuance Programme in the end topic to prevailing market circumstances and acquiring related regulatory approvals.”

Additionally this yr, MTN Nigeria Communications (MTN Nigeria) introduced the itemizing of its N110 billion Collection 1 Senior Unsecured Mounted Price Bond on the platform of FMDQ Securities Change Restricted.

The announcement got here after the Board Listings and Markets Committee of the Securities Change had authorised the itemizing of the bond.

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