Lagos, NG • GMT +1
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Tuesday, April 05, 2022 / 05:07 PM / by Meristem Research / Header Image Credit: Yahoo Finance
MTN Nigeria Communications Plc ("MTN Nigeria", or the "Company") Series 1 and 2 Commercial Paper Offer, under its N150 billion Commercial Paper Issuance Programme (the "Offer") is now open and scheduled to close Thursday, 07 April 2022.
The proceeds from the Offer will be used to support MTN Nigeria's working capital and general corporate purposes.
Please see below summary of the terms of the Offer:
Issuer | MTN Nigeria Communications PLC | |
Arranger | Stanbic IBTC Capital Limited | |
Dealers | Stanbic IBTC Capital Limited; Chapel Hill Denham Advisory Limited; Coronation Merchant Bank Limited; FBNQuest Merchant Bank Limited; FSDH Capital Limited; Standard Chartered Capital and Advisory Nigeria Limited; and UCML Capital Limited | |
Series | 1 | 2 |
Tenor | 186 | 256 |
Issuance Size | Up to N150 billion | |
Programme Size* | N150 billion | |
Discount Rate | 6.5255% | 7.3505% |
Implied Yield | 6.7500% | 7.7500% |
Offer Open Date | Tuesday, 05 April 2022 | |
Offer Close Date | Thursday, 07 April 2022 | |
Settlement Date | Friday, 08 April 2022 | |
Issuer Rating | AAA (GCR); Aa (Agusto) | |
Minimum Subscription | N5 million and N1 million thereafter | |
Method of Offer | Fixed Price Offer | |
Taxation | Applicable taxes shall apply except otherwise exempt. | |
Kindly note that instruction or mandate for the commercial paper closes at 12noon on the 7th of April, 2022.
Please be informed that this commercial paper is subject to WITHOLDING TAX PAYMENT and VAT as the new directives from Federal Inland Revenue Service.
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