The telecoms firm announced the N200 billion loan deal barely 48 hours after the formal confirmation of its listing by introduction as a publicly quoted company on the Nigerian Stock Exchange .
The facility denominated in Naira is structured with a two-year moratorium and repayment plan of seven years. The latest company financial statement as at December 31, 2018 shows MTN Nigeria’s total outstanding loans at N175.3 billion. He said the facility expands MTN’s existing domestic debt programme, which the company is using to fund its increasing network expansion.
He said the company was happy that after its successful listing on the NSE, MTN Nigeria was able to compliment it with an important addition to its portfolio of debt.
Classic Corporate rip off. Take a company public, get listed on the stock exchage and ......boom, take a loan of your stated value. Its called Cashing Out by the original owners. Etisalat did it too.
What happened to their billions na Abi they want to rob Nigeria because of the Fine NCC gave them
If them borrow this money na our airtime go hear am .....
for what?
What happened to their own money nah, while borrowing from seven Nigeria bank when China is there for who ever wants to borrow
Don't borrow from Useless Bank of Nigeria
Abeg make una no rich Ecobank nd Gtb
This is the whole plot to the etisalat bankruptcy movie
All of those banks will soon fold up.
Hope Gtb n Access no dey among sha!
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