• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, July 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

MTNN Raises N72.18bn Via Commercial Paper Issuance

by Olushola Bello
7 months ago
in News
MTNN
Share on WhatsAppShare on FacebookShare on XTelegram

MTN Nigeria Communications (MTNN) Plc has raised N72.18 billion through commercial paper issuance.

Advertisement

The company in a statement signed by its secretary, Uto Ukpanah, notified the investing public of the successful completion of its Series 13 and 14 Commercial Paper issuance under the company’s N250 billion commercial paper issuance programme.

“MTN Nigeria sought to raise N50 billion, but the offer recorded a 144 per cent over subscription with N72.18 billion issued. The 180-day and 270-day CP were issued at yields of 27.50 per cent and 29.00 per cent, respectively, with an issue on November 29, 2024.

“This follows the N75.18 billion Commercial Paper issued on November 7, 2024, demonstrating investor confidence in the management and financial performance of MTN Nigeria,” it stated.

MTNN said that the proceeds will be used to support short-term working capital requirements.

RELATED

130 Policemen, Guards Killed Fighting Banditry In Katsina

130 Policemen, Guards Killed Fighting Banditry In Katsina

5 hours ago
Nigerians Groan As SIM Registration, Swap Halted Over NIMC System Migration

NIMC Cautions Against Selling, Sharing Personal, NIN Data To Fraudsters

5 hours ago

Speaking on the development, chief executive officer of MTNN, Karl Toriola said, “we are pleased with the support received from the investor community, having recorded 144 per cent subscription with participation from a broad range of investors.

“This further reinforces MTN Nigeria’s financial position, brand strength and market leadership amidst the challenging macro conditions.”

Meanwhile, in the company’s nine months performance for the period ended September 2024, Toriola, stated, “we sustained the growth in our underlying operating performance, underpinned by our resilient business model and operational agility, despite challenging conditions.”

He however said, “adjusting for the net forex losses, profit after tax would have been positive. Further adjusting for the impact of forex in our operating expense (opex), PAT would have been up by 13.3 per cent to N367.1 billion.

“Despite the reported losses, we delivered a positive free cash flow of N536.8 billion, up 21.9 per cent, helped by favourable working capital movements and lower capex in the period.”

Stanbic IBTC Capital Limited acted as the Lead Arranger and Dealer, with CardinalStone Partners Limited, Chapel Hill Denham Advisory Limited, Cordros Capital Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Meristem Capital Limited, Quantum Zenith Capital & Investments Limited and Rand Merchant Bank Nigeria Limited as Joint Dealers.

MTN Nigeria is one of Africa’s largest providers of communications services, connecting approximately 77 million people in communities across the country with each other and the world. MTN Nigeria is part of the MTN Group, a multinational telecommunications group which operates in 18 countries in Africa and the Middle East.

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: MTNN
SendShareTweetShare
Previous Post

Agric Marketing: Federal Gov’t, World Bank Earmark $600m For Rural Roads

Next Post

Federal Gov’t Rules Out Bailout For Domestic Airlines

Olushola Bello

Olushola Bello

You May Like

130 Policemen, Guards Killed Fighting Banditry In Katsina
News

130 Policemen, Guards Killed Fighting Banditry In Katsina

2025/07/27
Nigerians Groan As SIM Registration, Swap Halted Over NIMC System Migration
Business

NIMC Cautions Against Selling, Sharing Personal, NIN Data To Fraudsters

2025/07/27
Sultan Commissions Katampe Jumu’at Mosque Friday
News

Middle Belt Forum Rejects Permanent Co-Chair For Sultan In Traditional Rulers’ Council

2025/07/27
Eterna Plc Reports Strong FY 2024 Performance
Business

Eterna Plc Reports Strong FY 2024 Performance

2025/07/27
Iyere Lauds Olawande As ‘Best Youth Minister’, Hails His Commitment To Empowerments
News

Iyere Lauds Olawande As ‘Best Youth Minister’, Hails His Commitment To Empowerments

2025/07/27
Kidnappers Of Akwa Ibom School Principal Demand N50m Ransom
News

Residents Jubilate Over Killing Of 3 Notorious Bandits In Sokoto

2025/07/27
Leadership Conference advertisement

LATEST

130 Policemen, Guards Killed Fighting Banditry In Katsina

NIMC Cautions Against Selling, Sharing Personal, NIN Data To Fraudsters

Middle Belt Forum Rejects Permanent Co-Chair For Sultan In Traditional Rulers’ Council

₦200trn Debt: ADC Demands Nigeria’s Loans Audit Of Last 10 Years

Eterna Plc Reports Strong FY 2024 Performance

Mission X: NFF Plans Motorcade Welcome For Super Falcons In Abuja

Iyere Lauds Olawande As ‘Best Youth Minister’, Hails His Commitment To Empowerments

Residents Jubilate Over Killing Of 3 Notorious Bandits In Sokoto

WAFCON: ‘You’ve Made Us Proud’, Jonathan Celebrates Super Falcons

Gov Sani Donates Vehicles To Federal Varsity Kachia

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.