MTN Nigeria Begins N100 Billion Commercial Paper Issuance

MTN Nigeria Communications Plc, through brokers – Chapel Hill Denham Advisory Limited, announced the Series I and II Commercial Paper Issuance. This scheme is set to commence on Thursday 29th May 2020 and close on Thursday, June 4th, 2020. The goal is to raise N100 billion through this offer, N50 billion from each series.

MTN Nigeria is arguably the largest telecommunication operator in Nigeria, the largest telecoms sphere in Africa. With over 70 million mobile subscribers and over half of the industry revenue in Nigeria, MTNN is overly capable to always offer the best service, coverage, infrastructure, and speed to Nigerians.

Not just this, they are well-posited for the probable long term challenges of the industry. Its infrastructure which consists of 2G, 3G, 4G, and the (incoming) 5G form the largest fibre network in Nigeria – appr. 30,000km. Its digital and physical data distribution is unprecedented and unrivaled. They are at the forefront of the endless streams of opportunities the Nigerian telecoms market brings, simply put.

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Why is MTN Issuing A Commercial Paper?

MTNN, as earlier indicated to the Nigerian Stock Exchange (NSE), intends to infuse the proceeds of this domestic MTN CP into its working capital and general commercial workflow. This is also MTNN’s first involvement in Nigeria’s domestic debt capital market.

Details of the MTN Nigeria Commercial Paper Issuance

Please see below, a summary of the terms of the Offer:

Kindly click on MTN Nigeria CP Issuance Docs to access the under listed documents in respect of the Offer:

You can notify your bank’s Relationship Manager if interested. This offer closes on Thursday, June 4, 2020.