MTN Nigeria Quotes Commercial Papers with Total Value of ₦127.00 Billion on FMDQ Exchange
MTN Nigeria Communications PLC Quotes Commercial Papers with Total Value of ₦127.00 Billion on FMDQ Exchange
The Nigerian debt capital market (“DCM”) continues to play an important role in the efficient mobilisation and allocation of resources in the economy to effectively support corporates looking to expand their business operations. In this regard, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”) is pleased to announce the approval and admission of the MTN Nigeria Communications PLC (“MTN Nigeria” or “the Company”) ₦150.00 billion Commercial Paper (CP) Programme and the ₦51.38 billion Series 1 and ₦75.62 billion Series 2 CPs under its ₦150.00 billion CP Issuance Programme on its platform. The quotation lays credence to the innovation, efficiency, and operational excellence for which the Exchange is reputed for as endorsed by issuers, investors, and other market stakeholders.
MTN Nigeria is one of Africa’s largest providers of communications services and Nigeria’s premier provider of connectivity, communication and collaboration solutions. MTN Nigeria is a member of MTN Group – a multinational telecommunications group, which operates in 21 countries in Africa and the Middle East. The Company serves over seventy-seven (77) million subscribers with national coverage and a fibre network that reaches every state in the nation. The proceeds from these issuances, which are co-sponsored by Stanbic IBTC Capital Limited – Lead Sponsor; Chapel Hill Denham Advisory Limited, Coronation Merchant Bank Limited, FBNQuest Merchant Bank Limited, FSDH Capital Limited, Standard Chartered Capital & Advisory Nigeria Limited and UCML Capital Limited (Co-Sponsors) – all Registration Member (Quotations) of the Exchange, will be utilised by MTN Nigeria to support its short-term working capital and funding requirements.
As an exchange with a commitment to facilitate growth and development in the Nigerian DCM and the economy at large, FMDQ Exchange will continue to show its commitment to promoting an efficient, transparent, and well-regulated market, which will attract and retain both domestic and foreign investors.
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