Business
MTN To Offer N100bn Bonds In New Issuance Program
Company Secretary, MTN Nigeria, Uto Ukpanah, disclosed this in a corporate filing on Thursday.
The telco giant said the proposed issuance followed relevant regulatory approval.
“MTN Nigeria Communications Plc (MTN Nigeria) has completed registration with the Securities and Exchange Commission (SEC) of its new N200 billion bond issuance programme announced in July 2022,” the statement reads.
“Consequently, MTN Nigeria has received SEC’s approval to launch the Series I (Tranche A) 4-Year Fixed Rate Bond and Series I (Tranche B) 10-Year Fixed Rate Bond (the “Issuance”) under the programme. The issuance continues to reinforce MTN Nigeria’s strategy of diversifying its funding sources in line with its corporate objectives.
“MTN Nigeria will launch the book build in respect of the Series I (Tranche A and B) Bond on 15 September 2022.”