MTN Nigeria Communications Plc (NGX: MTNN) says it has applied to the Securities and Exchange Commission (SEC) with regards to registering a new N200 billion Bond Issuance Programme.
MTNN disclosed this in a filing with the Nigerian Exchange on Tuesday seen by Investogist.
The company said this second Bond Issuance Programme is a “follow-on to the successful N200 billion debut Bond Issuance Programme in 2021.”
In 2021, MTNN issued N110 billion 13.00% 7 year series I bonds due 2028 and N90 billion 12.75% 10 year series II bonds due 2031 under the programme.
The company said the “proceeds from the bond issuance will be used for capital expenditure(network expansion), working capital management and general corporate purpose.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.