The Securities and Exchange Commission has received an application from MTN Nigeria Communications Plc in relation to the registration of a brand-new N200 billion Bond Issuance Program.
This information was provided in a disclosure document submitted to the exchange regarding MTN Nigeria Communications Plc’s registration of a follow-up N200 billion Bond Issuance Program.
The company stated that capital expenditures, working capital management, and general corporate purposes will be funded with the proceeds of the new bond issuance.
In a statement, the business said, “MTN Nigeria Communications Plc has applied to the Securities and Exchange Commission in respect of the registration of a new N200 billion Bond Issuance Programme” (Second Bond Issuance Programme).
This second bond issuance programme is a continuation of the successful N200 billion first bond issuance programme in 2021, during which the company issued the N110 billion 13.00 percent 7-year series I bond due in 2028 and the N90 billion 12.75 percent 10-year series II bonds due in 2031. The sale of the bonds will generate funds for working capital management, network expansion, and general corporate purposes.
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The second Bond issuance Program will be decided upon by the company in due course, pending market conditions and requisite regulatory approvals.
Things to be aware of
The listing of its N110 billion Series 1 Senior Unsecured Fixed Rate Bond on the FMDQ Securities Exchange Limited platform was announced by MTN Nigeria Communications (MTN Nigeria) in the same year.
Following the Securities Exchange’s Board Listings and Markets Committee’s approval of the bond’s listing, the announcement was made.
