MTN Nigeria signs N200 billion syndicated loan with seven local banks - Premium Times Nigeria

MTN Nigeria Communications Plc on Friday signed a seven-year 200 billion naira medium term facility with a consortium of seven mostly local banks.

The company said the seven banks were Access Bank, GT Bank, Zenith International Bank, Fidelity Bank, First City Monument Bank, United Bank for Africa and First Bank of Nigeria Limited. It noted that the medium-term facility would enable the company to fund its evolving business opportunities while assisting with capital expenditure and working capital, to deliver enhanced customer service.

“This facility expands our existing successful domestic debt programme which we are using to fund increased network capacity and the expansion of both the voice and data services on our network to customers in new areas.

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MTN Nigeria Signs 7-Year N200bn Medium Term LoanMTN Nigeria Communications Plc has signed a 7-year N200 billion Medium Term Facility with a consortium of seven banks to fund emerging businesses in Nigeria. The Chief Executive Officer, MTN Nigeria, Ferdi Moolman, signed the agreement at the law offices of Aluko & Oyebode in Lagos on Friday. According to him, the agreement is with […]
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