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

BBNaija’s Dorathy goes naughty on her birthday(Photos)

Dorathy Bachor has put her massive cleavage on display as she turns a year older.…

10 hours ago

I didn’t lose 2023 election, you stole it – Atiku to Tinubu

Former vice president, Atiku Abubakar has insisted that the outcome of the 2023 presidential election…

10 hours ago

Breaking: Tinubu Directs Release Of Minors Arraigned For Hunger Protests

President Bola Tinubu on Monday, directed the immediate release of all the minors who were…

10 hours ago

Eniola Ajao reveals why she nearly poisoned herself

Eniola Ajao, a popular Yoruba actress and filmmaker has revealed how fake news on social…

13 hours ago

Agatha Amata releases new photos on her 55th birthday

Agatha Amata is celebrating her 55th birthday today Taking to X to celebrate her new age,…

13 hours ago

Legendary music producer, Quincy Jones d!es at 91

Legendary American music producer, Quincy Jones has died at the age of 91.    …

14 hours ago