MTN Announced N127 billion series 1 & 2 Commercial Paper

MTN Announced N127 billion series 1 & 2 Commercial Paper

MTN Nigeria Communications Plc. made an announcement on Monday, 25 April 2022, of its N127 billion series 1 & 2 Commercial Paper.

MTN Nigeria Communications Plc (MTN Nigeria or the Company hereby notifies Nigerian Exchange Limited and the investing public of its N127 billion Series 1 & 2 Commercial Paper Issuance (the “issuance”) under its registered N150 billion Commercial Paper Programme).

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What is a Commercial Paper? A commercial paper is an unsecured promissory note issued with a fixed maturity by a company approved by RBI, negotiable by endorsement and delivery, issued in bearer form and issued at such discount on the face value as may be determent by the issuing company. Know more about Commercial Paper

The issuance comprised two tenors - a 184-day Series issuance period priced at a 7.50% yield and a 254-day Series 2 issuance priced at an 8.50% yield. Stanbic IBTC Capital Limited acted as Lead Arranger and Dealer, while Capital Hill Denham Advisory Limited, Coronation Merchant Bank Limited, Standard Chartered Capital & Advisory Nigeria Limited and UCML Capital Limited acted as Joint Dealers.

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