Finance

MTN Nigeria to Raise N50bn Through Commercial Paper Issuance

Published

4 years ago

May 27, 2020

MTN Nigeria to Raise N50bn Through Commercial Paper Issuance

MTN Nigeria Communication on Friday announced it would be raising N50 billion through Series I and II Commercial Paper insurance.

In a statement released through the Nigerian Stock Exchange (NSE), the telecommunication giant said it has received approval from the FMDQ Securities Exchange Plc for a N100 billion Commercial Paper Programme.

However, in the statement signed by Uto Ukpanah, the Company Secretary, the company said that the fundraising is part of efforts to diversify its financing options with funds being deployed towards operations and corporate purposes.

It added that further details on the issuance as well as subsequent issuances will be communicated to the market in due time.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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MTN Nigeria to Raise N50bn Through Commercial Paper Issuance

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