SEC approves MTN Nigeria’s N89.99bn series II bond

MTN Nigeria’s Q1 PBT up 39.4% to N143.6bn

MTN Nigeria closed the first-quarter (Q1) to March 31 with profit after tax (PAT) of N96.820billion as against N73.748billion in Q1’2021, up by 31.28percent.

The Securities and Exchange Commission (SEC) has granted MTN Nigeria Communications approval to launch its series II 10-year Fixed Rate Bond (Series II Bond), Uto Ukpanah, MTN’s Company Secretary, announced in a notice on Friday, in Lagos.

The notice explained that the transaction was under its debuted N200 billion issuance shelf programme announced on Sept. 21.

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“In addition, the bond issuance continues to reinforce MTN Nigeria’s strategy of diversifying its funding sources.

“MTN Nigeria will launch the book build in respect of the series II Bond on Oct. 8,” it said.

Iheanyi Nwachukwu

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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