By Samuel Bankole
MTN Nigerian on Friday said it has secured the approval of the capital market regulator, the Nigeria’s Securities and Exchange Commission (SEC) to issue N90 billion worth of bond under its N200 billion series 2 programmme.
In a regulatory filing with the Nigerian Exchange Group (NGX), the local unit of South Africa’s telecom giant said the represents the completion of the N200 billion registered shelf programme.
The telecom firm said it will launch the book build in respect of the Series II Bond on October 8, 2021.
On September 21, the telecom firm said it had submitted an application with tthe capital market regulator for clearance of its transactions document.
The telecom firm had said that the final decision on the launch of the bond wil be taken once all regulatory approvals are obtained, and the investing public will be duly notified.
Nigeria corporates have continued to tap the local debt market to raise needed funds to finance their operations and expand the domestic debt market.
The details of the regulatory filing read thus:
MTN Nigerian Communications Plc (MTN Nigeria) has obtained the approval of the Securities and Exchange Commission to launch the Series II 10-Year Fixed Rate Bond (Series II Bond) announced on 21 September 2021.
The Series II Bond represents the completion of the N200 billion registered
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 8 October 2021.