MTN Nigeria has issued commercial papers to raise N125 billion to meet its short-term working capital and funding needs.
The company announced on Monday that it had completed the Series 4 and 5 Commercial Paper issuances as part of its N150 billion Commercial Paper issuance program.
MTN Nigeria wanted to raise N100 billion, according to the notice that was signed by Ufo Ukpanat, the company secretary. The transaction was 125% subscribed, and N125 billion was raised.
A 188-day CP with a yield of 11% and a 267-day commercial paper with a yield of 12.50% were the commercial papers.
On March 1, 2023, the CP Issuance was completed.
