• Monday, June 17, 2024
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MTN Nigeria issues N100bn commercial papers

MTN Liberia faces sanctions amid regulatory breaches

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.

Read also: How MTN’s N90m equipment grant offers lifeline to small businesses

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.”