MTN Nigeria Communications Plc has applied to the Securities and Exchange Commission in respect of the registration of a new N200bn Bond Issuance Programme (Second Bond Issuance Programme).
This Second Bond Issuance Programme is a follow-on to the successful N200 billion debut bond issuance Programme in 2021 under which the Company issued N110 billion 13%, 7 years Series I bonds due in 2028 and N90 billion 12.75%, 10 years Series II bonds due in 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 the issuances under the Second Bond Issuance Programme in due course subject to prevailing market conditions and obtaining relevant regulatory approvals.