• Monday, February 26, 2024
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MTN Nigeria’s N72bn series 10 Commercial Paper offer opens

MTN raises N72.1bn from commercial paper issuance

MTN Nigeria Plc series 10 Commercial Paper (CP) offer of N72.104billion under its Commercial Paper issuance programme has opened.

The 266 days CP which opened on Friday November 24 is offered at discounted rate of 14. 33276 percent and implied yield of 16 percent.

Read also: MTN to award more towers to ATC as it reviews IHS contracts

The offer is scheduled to close on Monday, November 27 at 11.30am.

MTN Nigeria Plc has indicated that the issue proceeds will be used to finance working capital and for general corporate purposes.