MTN Nigeria says it has obtained a regulatory approval from the Securities and Exchange Commission (SEC) to launch its Series II 10-Year Fixed Rate Bond worth N89.99 billion.
In addition, the telecommunications giant is expected to launch the book build in respect to the Series II Bond, today being 8th of October, 2021.
This is according to a statement issued by MTN Nigeria, signed by its secretary, Uto Ukpanah, and filed with the Nigerian Exchange Limited (NGX).
‘’MTN Nigerian Communications Plc (MTN Nigeria) has obtained the approval of the Securities and Exchange Commission to launch the Series II 10-Year Fixed Rate Bond (Series II Bond) announced on 21 September 2021. The Series II Bond represents the completion of the N200 billion registered shelf programme. In addition, the bond issuance continues to reinforce MTN Nigeria’s strategy of diversifying its funding sources,” the notice said.
‘’MTN Nigeria will launch the book build in respect of the Series II Bond on 8 October 2021.’’
Other details below:
Principal Redemption: 7 Year Moratorium, Amortizing thereafter in 3 equal annual instalments until maturity.
Minimum Subscription: N10 million and in multiples of N1 million thereafter
Interest Basis: Fixed Rate
Tenor: 10 Years
Lead Issuing House: Chapel Hill Denham Advisory Limited
Joint Issuing Houses: Stanbic IBTC Capital Limited, DLM Advisory Limited, FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited, Rand Merchant Bank Nigeria Limited and Vetiva Capital Management Limited.
Listing: FMDQ Securities Exchange Limited
