Thursday, November 21, 2024
31.5 C
Lagos

MTN Nigeria Targets N50bn from Debt Market after N515bn Net Loss

MTN Nigeria has announced a plan to raise up to N50 billion from commercial paper sales in the local debt capital market.

In an official statement, the telecom firm stated that its series 11 and 12 commercial paper issuance is part of its N250 billion commercial paper registered with the authorities.

Latest earnings report showed that MTN Nigeria’s shareholders fund has been damaged by huge net losses emanating from the devaluation of the Naira.

“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 said in a note.

spot_img
spot_img
spot_img

Hot this week

UNIDO, ILO, Others to Headline 5th Lagos Waste Forum

Top government officials, Coca-Cola, the United Nations Industrial Development...

Polaris Bank Champions Financial Literacy for Students in Commemoration of World Savings Day 2024

Polaris Bank concluded its nationwide financial literacy initiative with...

WAICA: Heirs Insurance Sector Head Seeks AI Innovation to Drive Insurance Growth

L-R Niyi Onifade, Sector Head, Heirs Insurance Group and...

Stanbic IBTC Pension Managers Champions Nigerian Art with ART X Lagos Sponsorship

Stanbic IBTC Pension Managers has again made a significant...

Topics

Standard Chartered Bank Commits $75bn Towards SDGs

Standard Chartered Bank has announced new business targets for...

Adeosun, Kari for NIA Chairman’s Investiture on Aug 16

The Nigerian Insurers Association [NIA] will hold an investiture luncheon in honour of its 22nd Chairman, Mr. Eddie Efekoha, on Tuesday, August 16, 2016 at the Grand Ball Room, Eko Hotel & Suites, Victoria Island, Lagos at 11.30 am prompt.

‘INSURANCE FIRST Model Will Deliver 5-Point Agenda’

Mr. Tope Smart, the new chairman, Nigerian Insurers Association...

Mercedes Sales Rise to New Record in October, Boosted by China Demand

The new C-class wagon is helping to boost Mercedes...

NCDMB Lists Gains of NOGICD Act, Urges Namibia to Prioritise Local Content

The Nigerian Oil and Gas Industry Content Development (NOGICD)...

Transforming Marketing Landscape with Consumers Value Broadcasting Platform

By Elvis Eromosele Today the average consumer is inundated with...

IDC TechScape Offers Manufacturers Roadmap to Future Factory

The venerable factory is an important competitive weapon in the digital economy. Smart manufacturing programmes can deliver financial benefits that are tangible and auditable. More importantly, it transitions the production function from one that is capacity centric to one that is capability centric and able to serve global markets and discerning customers.

AFRICA RE, IFC Partnership to Empower African Farmers

Africa-Re’s partnership with IFC (A member of the World...
spot_img

Related Articles

Popular Categories

spot_imgspot_img