MTN Nigeria successfully raises N52.896 billion in commercial paper issuance

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MTN Nigeria plans N72.1 billion commercial paper issuance in series 10
MTN Nigeria plans N72.1 billion commercial paper issuance in series 10

MTN Nigeria has concluded Series 8 & 9 of its N20 billion commercial paper issuance program, successfully raising a total of N52.9 billion.

According to information obtained from the NGX website by Nairametrics, both series, totaling N52,895,846,000, were fully subscribed by investors.

The 182-day commercial papers carried a yield of 14.00%, while the 267-day commercial papers had a yield of 16.00%.

The issuance, completed on November 7, saw rapid execution, showcasing investor confidence in MTN Nigeria’s performance and management.

CEO Karl Toriola expressed gratitude for the transaction’s success and emphasized the importance of managing funding costs amid evolving market conditions.