MTN – Africa biggest mobile network by subscriber base – is looking to issue a bond to the tune of one hundred and twenty-six million US dollars in Nigeria – its largest market.
The bond, expected to be raised entirely within Nigeria’s debt capital market, will service MTN’s working capital and “general corporate purposes”.
MTN Nigeria has just shy of 70million subscribers with over 26million active mobile data users. Records show that in the
quarter ending March 2020, MTN Nigeria brought in revenues of more than 800 million US Dollars.
The company is reported more than anticipated performance, despite the impact of the Coronavirus pandemic.
MTN is also betting the future on its fintech and enterprise business service offerings which are expected to grow exponentially in the future periods.
Source Broadcast Media Africa