MTN Nigeria lists N110bn series 1 fixed rate bond on FMDQ Exchange

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MTN Nigeria Communications Plc has listed N110 billion series 1 fixed rate bond on the FMDQ Securities Exchange platform.

The bond listed was under its N200.00 billion Bond Issuance Programme on the Exchange’s platform.

MTN Nigeria is Nigeria’s premier provider of connectivity, communication and collaboration solutions, and the largest privately owned mobile operator in Africa, Europe, and the Middle East. The company serves over 77 million subscribers with national coverage and a fibre network that reaches every state in the nation.

The Chief Executive Officer, MTN Nigeria, Mr. Karl Toriola said “we are very proud of this landmark transaction, which is the first ever telecommunication bond issued in Nigeria and the largest corporate bond issuance in 2021.

The Nigerian debt capital market has given us the opportunity to diversify our funding sources further and enabled us to extend the maturities of our debt portfolio to match infrastructure investments. Investors’ strong support for this transaction, given the challenging economic environment, is a reflection of their confidence in MTN Nigeria’s long-term strategy, the management team, the depth of the market, and the overall growth in the telecommunications industry, and we do appreciate the support”.

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