MTN Nigeria Opens N100 billion commercial paper issuance

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MTN Nigeria Communications Plc has commenced its Commercial Paper (CP) Issuance (Series 1 & 2 of N50 billion each) under its N100 billion CP issuance programme and its to close on Thursday June 4, 2020.

In a statement issued by the company, the telco explained that the issuance has a tenor of 180 days (CP 1) and 270 days (CP 2) with a discount rate of 4.6890% – 4.8797% (CP1) and 5.8500% – 6.000% (CP2).

The issuance is important to the telco, as it intends using the proceeds for its working capital and general corporate purposes in Nigeria.

This issuance under the CP Programme represents MTN Nigeria’s debut in the domestic debt capital market.

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