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MTN Nigeria to tap debt market in first quarter – CFO

And has applied to the Nigerian Securities and Exchange Commission for approval, its chief finance officer said on Wednesday.
Image: Bloomberg

MTN Nigeria plans to tap the debt market in the first quarter and has applied to the Nigerian Securities and Exchange Commission for approval, its chief finance officer said on Wednesday.

The local unit of South Africa’s telecoms group MTN intends to issue debt to optimise its funding costs, CFO Modupe Kadri told an analyst call, without disclosing the amount the company intends to raise.

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More debt-after years trying to reduce it? And this after that mess of a company lost 70% of its market capitalization. Massive risk taking was all for nothing. The destruction of shareholder value phenomenal.

While Mr Shuter did a fair job and the CEO is new in that role the legacy of some of the past clowns that ran this place into the ground is astounding.

You are mistaking MTN Group for Nigerian operation. Group is reducing it debt and managing down dollar denominated debt. While the Nigerian operation is restructuring it debt.

CFO interviewed is the Nigeria CFO. Ralph the new Group is still continuing the work started by Rob ashe was the GCFO before. Let wait for MTN Group results next week. Looking at SENS, Ghana operation results and Nigeria operation…seems promising.

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