MTN Nigeria has revealed plans to raise funds through the issuance of N100 billion in commercial paper notes under its Commercial Paper Issuance Programme.
This was disclosed in a corporate notice filed on the Nigerian Exchange Limited on Wednesday.
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The company said, “The issuance is part of the company’s strategy to diversify its financing options, with the funds being deployed towards short-term working capital and funding requirements.”
The commercial paper notes are series 6 and 7 in the firm’s issuance programme.
Uto Ukpanah, the company secretary, said “further details on the issuance as well as subsequent issuances will be communicated to the market as the transactions occur.”
