DEALS

Building Nigeria’s telecommunications
capability for economic growth

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We are pleased to announce the successful completion of MTN Nigeria Communications Plc’s Series 1 Bond Issuance.

Absa Capital Markets Nigeria Limited successfully completed the MTN Nigeria Communications Plc (“MTN Nigeria”) Series 1 bond offering, allocating NGN 115 billion across a 4- and 10-year fixed-rate deal.

MTN Nigeria is the largest mobile network operator in Nigeria, and a subsidiary of MTN Group Limited, one of Africa’s leading telecommunications operators. MTN Nigeria has about 74.1 million mobile subscribers and 36.8 million active data users, with the most expansive 2G, 3G, 4G and 5G network in the country supported by the largest fiber network (over 33,000km) and a wide range of spectrum holdings.

As a Joint Issuing House and Bookrunner, we are proud to have played a key role on this transaction that directly contributes to bridging the telecommunications and connectivity gap in Nigeria as well as further deepening the local capital markets.

The transaction's success in challenging market conditions is reflective of investors’ confidence in MTN Nigeria as well as Absa’s capabilities and expertise in facilitating complex advisory transactions across the African continent.

The bravery to imagine. That’s Africanacity.

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