MTN Nigeria set to launch Series II 10-Year Fixed Rate bond
MTN Nigeria Communications Plc (MTN Nigeria) has obtained the approval of the Securities and Exchange Commission to launch the Series II 10-Year Fixed Rate Bond (Series II Bond) announced on September 21, 2021.
The Series II Bond represents the completion of the N200 billion registered shelf programme. In addition, the bond issuance continues to reinforce MTN Nigeria’s strategy of diversifying its funding sources.
MTN Nigeria l launched the book build in respect of the Series II Bond on 8 October 8, 2021
Stanbic IBTC Capital Limited which announced this, noted that MTN Nigeria is the leading telecommunications operator in the largest telecoms market in Africa. The company is the largest mobile operator and undisputed market leader in Nigeria as measured by total mobile subscribers (c.76.5 million), active data users (c.32.6 million), revenue (almost 50 per cent of industry) and profit pool.
Analysts believe that MTN Nigeria is well positioned for the long term with its unmatched investments in its infrastructure – most expansive 2G, 3G, and 4G network, largest fibre network (c.29,500km) spanning across Nigeria, largest physical and digital distribution platform and wide range of spectrum holdings, coupled with the exciting Nigerian market opportunity.
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