To increase its short-term operating capital and finance requirements, MTN Nigeria obtained N125 billion through the issue of commercial papers.
In a notification to the Nigerian Exchange Limited on Monday, the business announced that it has concluded the Series 4 & 5 Commercial Paper issue under its N150bn Commercial Paper issuance plan.
MTN Nigeria aimed to raise N100 billion, according to the notice signed by the company secretary, Ufo Ukpanat.
The transaction was 125 percent subscribed, raising N125 billion.
The commercial papers comprised a 267-day commercial paper with a yield of 12.50 percent and a 188-day CP with a yield of 11%.