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HomeBusinessMTN Nigeria plans N90 bln bond issuances, seeks SEC approval

MTN Nigeria plans N90 bln bond issuances, seeks SEC approval

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By Samuel Bankole

Local unit of South Africa’s telecom giant, MTN Nigeria on Thursday said it plans to issue N90 billion worth of bond under its N200 billion series 2 programmme.

To this end, the telecom firm said it has submitted an application with tthe capital market regulator, Securities and Exchange Commission (SEC) for clearance of its transactions document.

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In a regulatory filing with the Nigerian Exchange Group (NGX), the firm said it successfully raised N110 billion series 1 under its debt issuance programme in May 2921.

“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.

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