MTN Nigeria reaffirms plans to raise funds through commercial papers

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MTN Nigeria Communications Plc, on Wednesday, has reaffirmed its plan to raise N100 billion through commercial papers.

In a statement, on the Nigerian Stock Exchange (NSE), signed by the company secretary, Utoh Ukpanah, while reacting to a media reports stated that MTN Nigeria is currently exploring financing options including the issuance of commercial papers.

The statement added that it will announce any material developments via the Exchange, and reminded shareholders to exercise caution when reacting to information which has not been released by the Company.

According to the statement, “We wish to note that in our Listing by Introduction Memorandum, we had indicated that, In the past MTN Nigeria financed its expenditure primarily through syndicated banking facilities and if expects to do so in the Future in addition to exploring other financing options including but not limited to issuance of commercial papers.”

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