MTN Nigeria Communications Plc has notified the Nigerian Exchange and the investing public of its N150 billion Commercial Paper Programme. The Company proposed the issuance of Series 1&2 Commercial Paper of up to N150 billion.
The issuance is part of the Company’s strategy to diversify its financing options, with the funds being deployed towards working capital and general corporate purposes.
MTN Nigeria had initiated and successfully concluded 4 series of issuances under its previous N200 billion Commercial Paper shelf programme.
According to MTN Nigeria, further details on the issuance will be communicated to the market as the transactions occur.