MTN Nigeria Raises N42.20bn Through Commercial Paper Issuance
MTN Nigeria Communications Plc has successfully raised N42.20bn through its Series 15 and 16 Commercial Paper (CP) issuance under the company’s N250bn CP Issuance Programme.
According to the company’s notice to the NGX and seen by THE WHISTLER, the issuance, completed on December 23, 2024, featured 180-day and 270-day CPs with yields of 27.50 per cent and 29.00 per cent, respectively.
This marks the third successful CP issuance by MTN Nigeria within the last two months, reflecting strong investor confidence in the company’s business model and financial stability.
The funds raised are earmarked to support MTN Nigeria’s short-term working capital requirements.
Chief Executive Officer of MTN Nigeria, Karl Toriola, expressed his gratitude, stating, “We are grateful for the success of this transaction, which underscores investor confidence in MTN Nigeria’s business model and management team.
“The CP Issuance is part of our established funding strategy and would not have been possible without the unwavering support of the investor community, as well as our advisers.”
The transaction was coordinated by Stanbic IBTC Capital Limited, acting as the arranger and dealer.
The joint dealers included CardinalStone Partners Limited, Chapel Hill Denham Advisory Limited, Cordros Capital Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Meristem Capital Limited, Quantum Zenith Capital & Investments Limited, and Vetiva Advisory Services Limited.
MTN Nigeria Raises N42.20bn Through Commercial Paper Issuance is first published on The Whistler Newspaper
