MTN Nigeria Plc has reportedly successfully raised an additional N72.18 billion through the issuance of commercial papers. This latest funding round follows a previous N75 billion issuance in November 2024, demonstrating strong investor confidence in the telecom giant.
The Series 13 and 14 commercial papers were issued at attractive yields of 27.50 per cent and 29.00 per cent, respectively, with a maturity period of 180 and 270 days. The oversubscribed offer, which attracted a 144 per cent subscription rate, underscores MTN Nigeria’s strong financial position and brand reputation.
The proceeds from this issuance will be utilized to support the company’s short-term working capital requirements.
Karl Toriola, CEO, MTN Nigeria, expressed satisfaction with the successful fundraising, stating, “We are pleased with the support received from the investor community. This reinforces MTN Nigeria’s financial position, brand strength, and market leadership.”
Stanbic IBTC Capital Limited acted as the Lead Arranger and Dealer for the transaction, while other financial institutions, including CardinalStone Partners Limited, Chapel Hill Denham Advisory Limited, and Cordros Capital Limited, served as Joint Dealers.
