MTN Nigeria Communications PLC (“MTN Nigeria”, or the “Company”) Series 4 & 5 Commercial Paper offer of up to ₦100 billion under its ₦150 billion Commercial Paper Programme (the “Offer”) is NOW OPEN and scheduled to close Thursday, 23 February 2023.MTN Nigeria is the largest provider of communications services in Nigeria with over 75.6 million mobile subscribers across the country as at 31 December 2022. The Company is well positioned for the long term with unmatched investments in infrastructure – most expansive 2G, 3G, and 4G network (92.3% 2G, 83.6% 3G and 79.1% 4G population coverage), largest fibre network (over 32,000km) and a wide range of spectrum holdings. The Company has attained 14.9 million active fintech users and c.2 million active MoMo wallets since the launch of its PSB in 2022, driving financial inclusion in a young and fast-growing population. MTN Nigeria maintains its AAA rating by GCR, the highest possible corporate rating, reflective of its strong competitive position, earnings and cash flows which have supported a robust financial profile. The Company is also rated Aa+ by Agusto. The ratings further reflect MTN Nigeria’s experienced and dedicated management team, and its beneficial relationship with the MTN Group. The proceeds from the Offer will be used to support MTN Nigeria's working capital and general corporate purposes. Please see below summary of the terms of the Offer: |
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