fbpx
Friday, December 3, 2021
Home Business MTN Nigeria Lists N110Bn Series 1 Bond On FMDQ Exchange

MTN Nigeria Lists N110Bn Series 1 Bond On FMDQ Exchange

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

 FMDQ Securities Exchange Ltd. (FMDQ Exchange) has approved the listing of MTN Nigeria Communications (MTN Nigeria) N110 billion Series 1 Senior Unsecured Fixed Rate Bond on its platform.

The Chief Executive Officer, MTN Nigeria, Mr. Karl Toriola, said this in a statement by FMDQ Exchange, made available on Tuesday in Lagos State.

FMDQ Exchange said the listing followed the due diligence of its Board Listings and Markets Committee and under MTN Nigeria’s N200 billion Bond Issuance Programme on the Exchange’s platform.

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.

See also  MURIC Denies Link to Terrorist Group

“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.”

See also  COVID-19: NCDC Reports 835 New Cases, 10 Deaths

Chief Executive Officer of Chapel Hill Denham Advisory Limited, sponsor of the bond and a Registration Member (Listings) of the Exchange, Mr. Bolaji Balogun, stated: “The firm is honoured to have led the successful Series 1 bond issuance of N110 billion working with the six joint Issuing Houses.

See also  NEPZA Boss Tasks New Employees on Positive Work Ethics

“The Series 1 bond was oversubscribed and strongly supported by robust demand from over two hundred (200) investors, which included Pension Funds & Asset Managers, Banks, Family Offices and High Net-worth Individuals.

“This issuance is the largest corporate debt transaction this year and its success demonstrates MTN Nigeria’s strong credit profile, leading position in the market as well as its long-term prospects,” he added.

According to FMDQ Exchange, the admission of the Bond is reflective of the potential of the Nigerian DCM and the commendable level of confidence demonstrated by both issuer and investors and also validates the efficient processes and integrated systems through which FMDQ Group has sustained its service delivery to the market and its diverse stakeholders. 

See also  Explosions Damage Crude, Gas Pipelines at Shell, Agip Oil Fields in Bayelsa

© 2021, Scud News. All rights reserved.

- Advertisement -

Most Popular

Archbishop Of Paris Resigns Amid Allegation Of Romantic Relationship

Aupetit had been Archbishop of Paris since 2017 and was thus a high-ranking representative of the Catholic Church in France.

Federal High Court To Begin Christmas Vacation On Dec 20

“Due to sudden overriding official engagements, the New Legal Year ceremony will now begin on December 16 to December 17.

Kaduna Set To Sack 233 Teachers Working With Fake Certificates

He said the state would soon conduct competency tests for its teachers, adding that the test would be followed up with a series of training.

NCC Qualifies MTNN, Airtel For 3.5Ghz Spectrum Auction

Adinde said the mock auction was scheduled for December 10, while the main auction will hold on December 13, both in Abuja.

© 2020 – 2021, Scud News. All rights reserved.

%d bloggers like this: