MTN Nigeria Issues ₦127Bn Capital Via 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.

FMDQ Security Exchange has announced  the admission of  MTN Nigeria Communication Plc  N51.38 billion series 1 and N75.62 billion series 2 Commercial Papers under  its N150 billion CPs  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 77 million subscribers with national coverage and a fibre network that reaches every state in the nation.

The proceeds from these issuances will be utilised by MTN Nigeria to support its short-term working capital and funding requirements.

May 11, 2022