ADVERTISEMENT
  • Contact Us
  • Articles
  • Nollywood Snippets
  • Romance
  • Special Report
  • US This Week
  • Brain Teasers
  • Music Gists
  • From The NGOs
  • Advertisement
  • Privacy Policy
DGovScoops
  • Home
  • Politics
  • Business
  • Nation
  • World
  • Sports
  • Tech
  • Entertainment
No Result
View All Result
  • Home
  • Politics
  • Business
  • Nation
  • World
  • Sports
  • Tech
  • Entertainment
No Result
View All Result
DGovScoops
No Result
View All Result
Home Business

Nigerian MTN issues N110 billion bond

dgovscoops by dgovscoops
May 7, 2021
in Business
0 0
0
Nigerian MTN issues N110 billion bond
0
SHARES
38
VIEWS
Share on FacebookShare on Twitter
">
ADVERTISEMENT

By Jennifer Ugwueke

Telco giant MTN Nigeria (MTNN) Communications Plc says it has completed the issuance of a N110 billion fixed rate bond due in 2028 under a N200 billion bond programme.

It will help refinance existing debt as well as back the deployment of critical network infrastructure, and has a coupon of 13 per cent.

“The total value of orders received during the book build was N135,151,000,000, representing a 1.32 times oversubscription of the intended N100,000,000,000 issuance,” said the wireless and mobile money operator in a note to the Nigerian Exchange Limited on Thursday.

Yields in Africa’s biggest economy are at record lows following two rate cuts by the Central Bank of Nigeria last year, aimed at scaling down costs of borrowing for the government, a move seen by corporates as a chance to leverage debt-raising at more attractive rates.

MTNN Chief Financial Officer Karl Kadiri told an analyst call the telco issued the bond to optimise its funding costs and plans to transfer $250 million in outstanding dividend to the Johannesburg-based group.

MTN has been getting fund for capital expenditure by way of foreign trade lines, he added.

“The strong support for this transaction, given the challenging environment, is a reflection of the depth of the market, and investor confidence in MTN Nigeria’s long-term strategy, our management team, and the overall telecoms industry,” CEO Karl Toriola said.

The Nigerian unit of the South Africa telecom firm on Friday announced a jump of 42.53 per cent to N73.748 billion in profit January through March in a period which revenue rose from N329.171 billion to N385.318 billion.

The Nigerian market, one of more than 20 countries where MTN operates, accounts for one-third of the group’s sales.

Share this:

  • Twitter
  • Facebook
  • WhatsApp
  • LinkedIn
  • Telegram
  • Print

Related

">
  • Trending
  • Comments
  • Latest
BREAKING NEWS: BIDEN APPOINTS KOGI-BORN FEMALE INTO HIS CABINET

BREAKING NEWS: BIDEN APPOINTS KOGI-BORN FEMALE INTO HIS CABINET

January 13, 2021
Oba of Benin finally opens up, Advises on the candidate to vote for in the forthcoming Edo Governorship Election

Oba of Benin finally opens up, Advises on the candidate to vote for in the forthcoming Edo Governorship Election

August 28, 2020
An Apprentice At Chucks Supermarket Paid us to Kill the Owner- Suspect

An Apprentice At Chucks Supermarket Paid us to Kill the Owner- Suspect

July 29, 2020

Breaking News: Isanlu Robbery: Police Arrests Suspects

June 18, 2020
Publisher’s Comment

Publisher’s Comment

2
Breaking News: Tribunal Dismisses PDP’s Petition, affirms Bello of the APC as Governor

Breaking News: Tribunal Dismisses PDP’s Petition, affirms Bello of the APC as Governor

1
COVID-19: INEC to receive names of Edo, Ondo guber candidates online, says e-voting will begin in 2021

COVID-19: INEC to receive names of Edo, Ondo guber candidates online, says e-voting will begin in 2021

1
Governors reject Buhari’s order on state legislature, judiciary

Governors reject Buhari’s order on state legislature, judiciary

1
Sports enthusiasts commend NCC’s exemplary support for Tennis development

Sports enthusiasts commend NCC’s exemplary support for Tennis development

July 4, 2022
BUDGETARY FRAMEWORK IN NIGERIA: LEGISLATIVE IMPERATIVENESS AND INTROSPECTION BY GRACE ILEMONA JOSEPH & ADEYEMO KINGSLEY .A.

BUDGETARY FRAMEWORK IN NIGERIA: LEGISLATIVE IMPERATIVENESS AND INTROSPECTION BY GRACE ILEMONA JOSEPH & ADEYEMO KINGSLEY .A.

July 3, 2022
Femi Adesina: Nigerians Lucky To Have President Like Buhari

OPINION: BUHARI IN PORTUGAL: A PROPHET HAS NO HONOR ONLY IN HIS COUNTRY By FEMI ADESINA

July 1, 2022
Funke Akindele’s Marriage Crashes

Funke Akindele’s Marriage Crashes

June 30, 2022

Recent News

Sports enthusiasts commend NCC’s exemplary support for Tennis development

Sports enthusiasts commend NCC’s exemplary support for Tennis development

July 4, 2022
BUDGETARY FRAMEWORK IN NIGERIA: LEGISLATIVE IMPERATIVENESS AND INTROSPECTION BY GRACE ILEMONA JOSEPH & ADEYEMO KINGSLEY .A.

BUDGETARY FRAMEWORK IN NIGERIA: LEGISLATIVE IMPERATIVENESS AND INTROSPECTION BY GRACE ILEMONA JOSEPH & ADEYEMO KINGSLEY .A.

July 3, 2022
Femi Adesina: Nigerians Lucky To Have President Like Buhari

OPINION: BUHARI IN PORTUGAL: A PROPHET HAS NO HONOR ONLY IN HIS COUNTRY By FEMI ADESINA

July 1, 2022
Funke Akindele’s Marriage Crashes

Funke Akindele’s Marriage Crashes

June 30, 2022
DGovScoops

Dear readers, welcome to the fresh soothing world of exclusive scoops from the No1 exclusive story merchants of the industry. We are poised to exercise our mandate as "watchdog of the society" with all sense of patriotism and responsibility.

Browse by Category

  • Articles
  • Brain Teasers
  • Breaking News
  • Business
  • Crime
  • Education
  • Entertainment
  • From The NGOs
  • Health
  • Latest News
  • Lifestyle
  • Music Gists
  • Nation
  • Nollywood Snippets
  • Politics
  • Romance
  • Special Report
  • Sports
  • Tech
  • US This Week
  • World

Recent News

Sports enthusiasts commend NCC’s exemplary support for Tennis development

Sports enthusiasts commend NCC’s exemplary support for Tennis development

July 4, 2022
BUDGETARY FRAMEWORK IN NIGERIA: LEGISLATIVE IMPERATIVENESS AND INTROSPECTION BY GRACE ILEMONA JOSEPH & ADEYEMO KINGSLEY .A.

BUDGETARY FRAMEWORK IN NIGERIA: LEGISLATIVE IMPERATIVENESS AND INTROSPECTION BY GRACE ILEMONA JOSEPH & ADEYEMO KINGSLEY .A.

July 3, 2022
  • Contact Us
  • Articles
  • Nollywood Snippets
  • Romance
  • Special Report
  • US This Week
  • Brain Teasers
  • Music Gists
  • From The NGOs
  • Advertisement
  • Privacy Policy

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
21