Barely 24 hours after its shares were listed on the Nigerian Stock Exchange (NSE), Telcom giant MTN Nigeria Communications Plc has signed N200 billion medium-term loan facility with seven Nigerian Banks.

The banks are Access Bank Plc, GTBank Plc, Zenith Bank Plc, Fidelity Bank Plc, FCMB, UBA, and First Bank. In a notice to its shareholders, MTN Nigeria said Citibank acted as the coordinator while Quantum Zenith acted as the Facility Agent.

READ ALSO: NCC counts gains of MTN listing on Nigerian Stock Exchange

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The agreement was formally signed at a ceremony at the law offices of Aluko & Oyebode in Ikoyi, Lagos in the presence of key partners and other stakeholders.

The shares of the telecom giant gained N9.9 or 10 per cent (the maximum permissible increase) to occupy the topmost position on the gainer’s table at the close of trading on the NSE.

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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