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MTN N200b Bond may Open in the Next Few Weeks

The N200 billion bond initiated by the leading telecoms service provider, MTN Nigeria, may launch in the next few weeks, sources familiar with the matter have said.

The revenues from the bond sale will be put to use for general company purposes, working capital management, and capital expenditures.

TechEconomy understands that MTN, July applied to the Securities and Exchange Commission to register for the new N200 billion Bond Issuance Programme.


Sources say that stockbroking companies have begun a comprehensive marketing campaign for the upcoming offer, using evidence-based data that imply the offer structure has been finalized.

The mobile operator since July has been in talks with key stakeholders about the success of the offer.

A public document reveals that the second Bond Issuance Programme is a follow-on to the successful N200 billion debut Bond Issuance Programme in 2021 under which the company issued the N110 billion 13.00 percent 7-year series bond due by 2028 and N90 billion 12.75 percent 10-year series II bonds due 2031.

MTN Nigeria plans to issue two tranches of bonds- a tranche of a four-year bond maturing in 2026 and another tranche of a 10-year bond maturing in 2032.

In 2021, MTN also announced the listing of its N110 billion Series 1 Senior Unsecured Fixed Rate Bond on the platform of FMDQ Securities Exchange Limited.


Written by PH

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