MTN Nigeria to raise N50 billion from the capital market through the issuance of Commercial Paper Notes under its N250 billion Commercial Paper Issuance Programme.
The telecommunication company disclosed this on Thursday via a statement signed by Uto Ukpanah, the Company Secretary.
The statement reads, “MTN Nigeria Communications PLC (“MTN Nigeria” or the “Company”) hereby notifies the Nigerian Exchange Limited and the investing public of the proposed issuance of up to N50 billion Series 13 and 14 Commercial Paper Note under the N250 billion Commercial Paper Issuance Programme (the “Issuance”).
“The Issuance aligns with the Company’s strategy to diversify its funding options, with the proceeds deployed to support short-term working capital requirements.”
The proposed N50 billion issuance represents a commitment to sustaining this growth trajectory while meeting immediate operational needs. With the company’s track record of transparency and financial discipline, analysts anticipate strong investor interest in the Series 13 and 14 Notes.
