Categories: Sponsored Posts

MTN Nigeria applies for N200 billion Bond Issuance Programme

MTN Nigeria Communications Plc has applied to the Securities and Exchange Commission in respect of the registration of a new N200 billion Bond Issuance Programme.

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

Advertisement

The company said the proceeds of the new bond issuance will be used for capital expenditure, working capital management and general corporate purpose.

 

Advertisement

What MTN is saying

The company stated, “MTN Nigeria Communications Plc has applied to the Securities and Exchange Commission in respect of the registration of a new N200 billion Bond Issuance Programme (Second Bond Issuance Programme).

“This second Bond Issuance Programme is a follow-on to the successful N200 billion debut Bond Issuance Programme in 2021 under which the company issued the N110 billion 13.00% 7-year series I bond due by 2028 and N90 billion 12.75% 10-year series II bonds due 2031. The proceeds of the bond issuance will be used for capital expenditure (network expansion), working capital management and general corporate purpose.

Advertisement

“The company will decide on issuance under the second Bond issuance Programme in due course subject to prevailing market conditions and obtaining relevant regulatory approvals.”

What you should know

  • Also year, MTN Nigeria Communications (MTN Nigeria) announced the listing of its N110 billion Series 1 Senior Unsecured Fixed Rate Bond on the platform of FMDQ Securities Exchange Limited.
  • The announcement came after the Board Listings and Markets Committee of the Securities Exchange had approved the listing of the bond.
Sola Adeyemo

Recent Posts

Breaking: FIRS Announces Fresh Recruitment, See Eligibility Criteria, Application Deadline

The Federal Inland Revenue Service (FIRS) has begun its recruitment exercise for experienced professionals to…

12 hours ago

Primate Ayodele’s Prophecies For 2025

Primate Elijah Ayodele Unveils 94-Page Prophecy for 2025, Makes Striking Predictions About Nigeria’s Political and…

14 hours ago

Tinubu’s Aide Condemns Plan To Reinstall ‘Jesus Is Not God’ Banner In Lekki Mosque

The Senior Special Assistant to President Bola Tinubu on Community Engagement (North Central), Abiodun Essiet,…

17 hours ago

President Tinubu’s reforms not responsible for food stampedes – FG

The Minister of Information and National Orientation, Mohammed Idris, has warned politicians against linking stampedes…

17 hours ago

I will be more influential in Nigeria than UK – Tobi Adegboyega

Tobi Adegboyega, founder of the Salvation Proclaimers Anointed Church (SPAC Nation), has stated that he…

17 hours ago

Petrol To Sell ₦‎935/Litre From Today – IPMAN

The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell…

17 hours ago