MTN Nigeria Communications Plc Series I and II Commercial Paper Issuance, under its N100 billion Commercial Paper (“CP”) Issuance Programme, is NOW OPEN.
The proceeds from the CP Issuance will be used to support MTN Nigeria’s working capital and general corporate purposes. This issuance under the CP Programme represents MTN Nigeria’s debut in the domestic debt capital market. The Offer is scheduled to close on Thursday, June 4, 2020.
MTN remains Nigeria’s largest telecom provider. Its 2019 financial report shows that the company’s total number of mobile subscribers increased by 6.1 million. Its total mobile subscribers currently stand at a record 64.3 million.
This represents a 10.5% net growth from the numbers recorded in the previous year.
The company has recorded over N1 trillion in revenue for the second year in a row. It also generated revenue of N1.2 trillion, which is a 12.57% increase from the N1.039 trillion generated in 2018.