MTN Nigeria to Raise N200 Billion for Network Expansion

MTN Nigeria Communications Plc has applied to the Securities & Exchange Commission in respect of the registration of a new N200 billion Bond Issuance Programme (Second Bond Issuance Programme).

This Second Bond Issuance Programme is a follow-on to the successful $200 billion debut Bond Issuance Programme in 2021 under which the Company issued the #110 billion 13.00% 7 Year Series | bonds due 2028 and 890 billion 12.75% 10 Year Series II bonds due 2031. The proceeds of the bond issuance will be used for capital expenditure (network expansion), working capital management, and general corporate purpose.

The Company will decide on issuances under the Second Bond Issuance Programme in due course subject to prevailing market conditions and obtaining relevant regulatory approvals.