MTN Nigeria Signs N200bn Medium Term Loan Facility


Friday, May 17, 2019 05:46 PM / NSE / Header Image Credit: NSE


Leading Information and Communications Technology (ICT) company, MTN Nigeria Communications Plc (“MTN”), today announced the signing of a 7-year N200 billion Medium Term Facility with a consortium of seven (7) mostly local banks, with Citibank acting as co-ordinator and Quantum Zenith as Facility Agent.


The agreement was formally signed at a ceremony at the law offices of Aluko & Oyebode in Ikoyi, Lagos, in the presence of key partners and other stakeholders. The Medium Term Facility will enable MTN to fund its evolving business opportunities while assisting with capital expenditure and working capital, to deliver enhanced customer service. It follows the successful establishment of a similar seven year, N200 billion facility by MTN in 2018 and forms part of the company’s wider programme to raise domestic debt.


Speaking at the signing, Chief Executive Officer, MTN Nigeria, Ferdi Moolman, expressed enthusiasm at the completion of the agreement, saying it signposts MTN’s commitment to and confidence in Nigeria, and the strength of the strategic collaboration between MTN Nigeria and local financial institutions, that will help deepen and broaden the provision of ICT services in Nigeria:


“This facility expands our existing successful domestic debt programme which we are using to fund increased network capacity, and the expansion of both the Voice and Data services on our network to customers in new areas, and with new next generation services. We have enjoyed remarkable funding support from Nigeria’s financial institutions since our first facility in 2003 and this has been critical to the development of one of the largest telecoms network in Africa, with over 60m subscribers. | am delighted that, so soon after our successful listing on the Nigerian Stock Exchange, we are able to compliment it with such an important addition to our portfolio of debt.”


Moolman lauded the participating financial institutions for staying committed to MTN, stressing that the loan syndication showcases the strength of the Nigerian financial institutions and their confidence in MTN’s vision, as well as both parties joint ability to stimulate significant economic growth.


Proshare Nigeria Pvt. Ltd.

Related News

1.       Bullish Post Listing Market Reaction on MTNN Stock

2.      Nigeria Stock Exchange Admits MTN Nigeria Communications Plc to its Premium Board

3.      A Fool’s Guide to the MTN Nigeria’s 2019 Public Listing

4.      MTN Nigeria Receives Approval To List On The Premium Board Of NSE; Listing To Proceed On 16th May

5.      MTN Q1 2019 Conference Call; Key Takeaways, Management Keeps Firm Hand on Profit Machine

6.      MTNN Q1 2019 Analyst Presentation

7.      Extracts For MTN Nigeria From The Group Quarterly Statement Update for Period Ended March 2019

8.     MTN VS AGF: Court Rejects AGF Preliminary Objection

9.      MTN Nigeria Sues FGN and AGF For N3billion

10.  SEC Nigeria Confirms Receipt of MTN Application for Registration of Securities

11.   MTN Announces Conversion From A Private Company To A PLC

12.  MTN to List On the NSE Before End of H1, 2019

13.  MTN Nigeria Releases Financial Results For The FYE Dec 31, 2018; Plan To List on NSE By H1 2019

14.  MTN Nigeria Resolves Amicably Issues Relating to Foreign Exchange Remittances

15.   Providing Reliable Connectivity for Businesses: MTN Delivers Cutting Edge Solutions to NNPC

16.  Reports Indicate That Nigeria’s Central Bank and MTN Reach Tentative Agreement On $8bn Fines

17.   MTN Ghana Successfully Completes Its Initial Public Offer

18.  MTN Nigeria – Interim Financials For H1 2018

19.  Neither MTN Nigeria Nor Any of Its Advisers Has Filed Any IPO Application With SEC Nigeria

20. MTN Ghana Launches Mobile Money Based IPO

21.  MTN Nigeria IPO Teaser – Listing and Precursory Information

22. MTN Nigeria To List On The NSE; A Promise Fulfilled – OTC Equity Research


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.


Related News