MTN Nigeria Plc, one of the country's leading telecommunications firms, has unveiled plans to secure up to N50 billion through commercial paper sales in Nigeria’s debt capital market.
This issuance, comprising series 11 and 12 of MTN Nigeria’s registered N250 billion commercial paper program, aims to provide the company with a broader range of financing options.
In light of recent earnings reports, MTN Nigeria's shareholders have faced significant net losses due to the naira's devaluation, which has impacted the company's equity position.
“The issuance is part of the company’s strategy to diversify financing options, with funding being deployed toward financing short term working capital requirements,” MTN Nigeria stated.
No comments:
Post a Comment