MTN Nigeria has notified the Nigerian Exchange and the investing public of its N127 billion Series 1&2 Commercial Paper Issuance under its registered N150 billion Commercial Paper Programme.
The issuance comprise two tenors – a 184-day Series 1 issuance priced at 7.50% yield and a 254-day Series 2 issuance priced at an 8.50% yield, Stanbic IBTC Capital Limited acted as Lead Arranger and Dealer, while Chapel Hill Denham Advisory Limited, Coronation Merchant Bank Limited, FBN Quest Merchant Bank Limited, FSDH Capital Limited, Standard Chartered Capital & Advisory Nigeria Limited and UCML Capital Limited acted as Joint Dealers.
According to the telecom giant, the issuance is in line with the Company’s strategy to diversify its financing options with the proceeds being deployed towards working capital and general corporate purposes.