Finance
MTN Nigeria to Raise N50bn Through Commercial Paper Issuance
- 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.