By Mustapha Salisu
MTN Nigeria has has revealed it has raised N125bn through issuance of commercial papers to boost its short-term working capital and funding requirements.
The Company’ Secretary, Ufo Ukpanat, in a notice he signed revealed that MTN Nigeria aimed to raise N100bn, and the transaction was 125 per cent subscribed, with N125bn raised.
The notice which was dispatched to the Nigerian Exchange Limited on Monday, the company said that it had completed the Series 4 & 5 Commercial Paper issuance under its N150bn Commercial Paper issuance programme.
The commercial papers issuance which was completed on 1st March 2023, included a 188-day CP at a yield of 11.00 per cent and 267-day commercial paper at a yield of 12.50 per cent.