SEC approves MTN Nigeria’s N89.99bn series II bond

The Securities and Exchange Commission (SEC) has granted MTN Nigeria Communications approval to launch its series II 10-year Fixed Rate Bond (Series II Bond), MTN’s Company Secretary, Mrs Uto Ukpanah, announced in a notice.

The notice explained that the transaction was under its debuted N200 billion issuance shelf programme announced on Sept. 21.

“In addition, the bond issuance continues to reinforce MTN Nigeria’s strategy of diversifying its funding sources.

“MTN Nigeria will launch the book build in respect of the series II Bond on Oct. 8,” it said.