WATCH THE VIDEO HERE MTN Nigeria Communications PLC has informed the investing public and the NGX that it has completed its Series 15 and 16 Commercial Paper (CP) issuance, raising N42.20 billion. This follows an earlier announcement regarding the successful issuance of Series 13 and 14 Commercial Papers, which collectively raised N72.18 billion. In a formal notification signed by Company Secretary Uto Ukpanah and published on the NGX disclosure platform, MTN Nigeria revealed the successful performance of the Series 15 and 16 issuances. These offerings were conducted under MTN Nigeria’s N250 billion Commercial Paper Issuance Programme, achieving a subscription rate of 84.4%. MTN Nigeria’s Chief Executive Officer, Karl Toriola, shared his enthusiasm and appreciation regarding the recent fundraising achievement. He stated, “We are grateful for the success of this transaction, which underscores investor confidence in MTN Nigeria’s business model and management team.” He further emphasized, “The Commercial Paper Issuance is a key component of our established funding strategy and could not have been accomplished without the steadfast support of the investor community and our advisors.” MTN Nigeria has been actively raising funds through its N250 billion Commercial Paper Issuance Programme, a strategic initiative designed to support its operational and business goals. The recent Series 15 and 16 issuances achieved an 84.4% subscription, reflecting ongoing investor interest. Earlier that month, on November 7, MTN Nigeria issued Series 11 and 12 Commercial Papers, raising N75.1 billion, further demonstrating its strong appeal to investors.
MTN Nigeria raises N42.20 billion in series 15 and 16 commercial paper issuances
