MTN Nigeria announces completion of N100bn Commercial Paper

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MTN Nigeria Communications (MTNN) Plc on Tuesday announced the successful issuance of N100 billion Series I & II Commercial Paper (CP) notes.

and the investing public signed by Uto Ukpanah, its Company Secretary.

According to the statement, Series II 270 day CP sizes at N80 billion, clears at an effective yield of 5.95 per cent. “Given the significantly over-subscribed book, MTNN opted to issue up to the N100 billion limit of the registered CP programme,” it said. “The level of interest in MTNN’s debut in the Nigerian debt markets is a strong reflection of investor confidence in its ability to continue to deliver on its strategic objectives,” the statement added.

 

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