Adebayo Obajemu

MTN Nigeria Communications Plc has successfully completed the issuance of N89.999 billion Series II, 10-year 12.75% Fixed Rate Bonds due in 2031 under the N200 billion bond issuance programme.

The Series II bond is the second issuance in 2021 by MTN Nigeria, following the successful debut in May 2021. This completes MTN Nigeria’s N200 billion bond issuance programme, which was fully subscribed.

The offer was well received by active participation from a diverse range of high value investors, including pension funds, insurance companies, asset managers, financial institutions and high net worth individuals.

The total value of subscription peaked at N133.454 billion, representing 1.48 times oversubscription.

The successful Series II bond reflects MTN Nigeria’s strong credit ratings, which was recently upgraded to AAA, investors’ confidence in its ability to maintain market leadership in the telecoms industry, and the depth of the domestic capital market. The net proceeds will be used to optimize MTN Nigeria’s capital structure and finance network expansion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here