MTN Nigeria Plans Up To N150bn Two Series Commercial Paper Issuance

Telecommunication giant, MTN Nigeria Plc, says it plans to issue up to N150bn in series 1 and 2 of its commercial paper programme, as part of a strategy to diversify its financing options.

The fund, it notified the Nigerian Exchange Limited, in a filing on Tuesday by Uto Ukpanah, its company secretary, “will be deployed towards working capital and general corporate purposes.”

According to the notice, the company “had initiated and successfully concluded four series of issuances under its previous N200bn commercial paper shelf programme.”