Home Business MTN Nigeria Lists N110bn Bond On FMDQ Exchange

MTN Nigeria Lists N110bn Bond On FMDQ Exchange

0

FMDQ Securities Exchange Limited (FMDQ Exchange), following the due diligence of its Board Listings and Markets Committee has pproved the listing of MTN Nigeria’s  N110 billion Series 1 Senior Unsecured Fixed Rate Bond under its N200 billion Bond Issuance Programme on the Exchange’s platform.

MTN Nigeria is country’s premier provider of connectivity, communication and collaboration solutions, and the largest privately owned mobile operator in Africa, Europe, and the Middle East.

The company serves over 77 million subscribers with national coverage and a fibre network that reaches every state in the nation.

Chief Executive Officer, MTN Nigeria, Mr. Karl Toriola said: “We are very proud of this landmark transaction, which is the firstever telecommunication bond issued in Nigeria and the largest corporate bond issuance in 2021.

“The Nigerian debt capital market has given us the opportunity to diversify our funding sources further and enabled us to extend the maturities of our debt portfolio to match infrastructure investments.

“Investors’ strong support for this transaction, given the challenging economic environment, is a reflection of their confidence in MTN Nigeria’s long-term strategy, the management team, the depth of the market, and the overall growth in the telecommunications industry, and we do appreciate the support”.

Speaking on the successful bond issuance, the sponsor of the bond and a Registration Member (Listings) of the Exchange, Chapel Hill Denham Advisory Limited, represented by the Chief Executive Officer, Mr. Bolaji Balogun, said: “The firm is honoured to have led the successful Series 1 bond issuance of N110 billion working with the six  joint Issuing Houses.

“The Series 1 bond was oversubscribed and strongly supported by robust demand from over two hundred (200) investors, which included Pension Funds & Asset Managers, Banks, Family Offices and High Networth Individuals.

“This issuance is the largest corporate debt transaction this year and its success demonstrates MTN Nigeria’s strong credit profile, leading position in the market as well as its long-term prospects”.

wema_bank_salary_based_loan

Like and Share this:

ADD YOUR COMMENT

Please enter your comment!
Please enter your name here