MTN Nigeria raises N127b short-term capital

MTN Nigeria Communications (MTN Nigeria) Plc has  raised N127 billion new debt capital, placing the telecoms group in better position to diversify its capital funding.

MTN Nigeria yesterday listed two commercial paper issuances worth N127 billion on the FMDQ Securities Exchange, completing the fund raising cycle for the issuances. the two issuances were under MTN Nigeria’s N150 billion CP issuance programme which were also admitted to the FMDQ Exchange.

The net proceeds of the issuances would be used by MTN Nigeria to support its short-term working capital and funding requirements.

FMDQ Exchange noted that the quotation of the MTN Nigeria Ps laid credence to the innovation, efficiency, and operational excellence for which the Exchange is reputed for as endorsed by issuers, investors, and other market stakeholders.


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