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MTN Nigeria to launch new N200b bond

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MTN Nigeria Communication (MTN Nigeria) PLC has concluded arrangements to launch its new N200 bond issue as professional parties to the telecoms group intensify engagements with key stakeholders for the success of the offer.

Sources said the bond issue may open within the next few weeks. Stockbroking firms have started extensive marketing of the impending offer, using conclusive details that suggest finalization of the offer structure.

Available documents indicated that MTN Nigeria plans to issue two tranches of bonds- a tranche of four-year bond maturing in 2026 and another tranche of 10-year bond maturing in 2032.

The forthcoming bond issue has also been rated AAA by Global Credit Rating (GCR) and Aa+ by Agusto & Co. Limited, the same ratings assigned to MTN Nigeria; underlining its strong financial position.

The new capital raising would be undertaken through the book-building method, an auction-like, bid-based process that usually targets investment firms and high NetWorth investors.

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