MTN Nigeria raises N42.20 billion in sequence 15 and 16 industrial paper issuances 

0

MTN Nigeria Communications PLC has knowledgeable the investing public and the NGX that it has accomplished its Sequence 15 and 16 Industrial Paper (CP) issuance, elevating N42.20 billion.

This follows an earlier announcement concerning the profitable issuance of Sequence 13 and 14 Industrial Papers, which collectively raised N72.18 billion.

In a proper notification signed by Firm Secretary Uto Ukpanah and revealed on the NGX disclosure platform, MTN Nigeria revealed the profitable efficiency of the Sequence 15 and 16 issuances.

These choices have been carried out below MTN Nigeria’s N250 billion Industrial Paper Issuance Programme, reaching a subscription charge of 84.4%.

What to know 

  • MTN Nigeria raised funds via two industrial papers below its N250 billion program.
  • The Sequence 15 and 16 choices, issued on December 23, 2024, supplied yields of 27.50% for the 181-day paper and 29.00% for the 270-day paper, interesting to various kinds of traders.
  • This issuance follows the profitable Sequence 13 and 14 papers from November 29, 2024, which raised N72.18 billion.
  • Initially aiming for N50 billion, the Sequence 15 and 16 issuances achieved 84.4% subscription, totaling N42.20 billion.
  • Stanbic IBTC served because the Lead Arranger and Supplier, with help from Joint Sellers like CardinalStone, Chapel Hill Denham, Cordros, Coronation, FCMB, Meristem, Quantum Zenith, and Rand Service provider {Bank}.

Feedback from the CEO

MTN Nigeria’s Chief Government Officer, Karl Toriola, shared his enthusiasm and appreciation concerning the current fundraising achievement.

He said, “We’re grateful for the success of this transaction, which underscores investor confidence in MTN Nigeria’s enterprise mannequin and administration crew.”  

He additional emphasised, “The Industrial Paper Issuance is a key part of our established funding technique and couldn’t have been achieved with out the steadfast help of the investor group and our advisors.” 

Backstory

MTN Nigeria has been actively elevating funds via its N250 billion Industrial Paper Issuance Programme, a strategic initiative designed to help its operational and enterprise objectives.

The current Sequence 15 and 16 issuances achieved an 84.4% subscription, reflecting ongoing investor curiosity.

  • On November 29, 2024, the corporate efficiently launched Sequence 13 and 14 Industrial Papers, providing yields of 27.50% for the 181-day tenor and 29.00% for the 270-day tenor.
  • Initially geared toward N50 billion, these issuances noticed overwhelming demand, leading to an oversubscription of 144% and finally elevating N72.18 billion.

Earlier that month, on November 7, MTN Nigeria issued Sequence 11 and 12 Industrial Papers, elevating N75.1 billion, additional demonstrating its sturdy attraction to traders.


Comply with us for Breaking Information and Market Intelligence.
whatsapp banner
Leave A Reply

Your email address will not be published.