MTN Nigeria Communications Plc’s Series I and II Commercial Paper (CP) issuance is scheduled to close on Thursday, June 4, 2020. The offer opened on Thursday May 28 and it is through Book Building process.
The CP issuance of up to N50billion has Chapel Hill Denhan Advisory Limited as the arranger. The ongoing CP issuance is under the company’s N100billion Commercial Paper (CP) Issuance Programme
MTNN is the leading telecommunications operator in the largest telecoms market in Africa. The Company is the largest mobile operator and undisputed market leader in Nigeria as measured by total mobile subscribers (circa 70 million), active data users (circa 26.8 million), revenue (almost 50percent of industry), and profit pool.
The proceeds from the CP Issuance will be used to support MTN Nigeria’s working capital and general corporate purposes. This issuance under the CP Programme represents MTN Nigeria’s debut in the domestic debt capital market.
