MTN Nigeria plans to raise N50bn in fresh commercial paper issuance
MTN Nigeria Communications Plc is proposing to issue up to N50 billion series 15 and 16 commercial paper note under
MTN Nigeria simulated ₦242.78 ▲0.68% Communications Plc is proposing to issue up to N50 billion series 15 and 16 commercial paper note under its N250 billion CP programme.
The proposed issuance comes less than two weeks after the telecommunications company announced the successful completion of its series 13 and 14 CP issuance, through which it raised N72.18 billion
“The issuance is part of the company’s strategy to diversify its financing options with the proceeds deployed to support short-term working capital requirements. Further details on the Issuance will be disclosed to the market,” it said in a statement on Monday.
Read more: MTN Nigeria secures N72.18bn loan to boost working capital
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