MEDIA RELEASE
25 OCTOBER 2022
RMB in Nigeria supports MTN Nigeria Communications PLC‘s N115bn corporate bond issuance
MTN Nigeria Communications PLC (MTN Nigeria) has issued N115 billion senior unsecured fixed rate bonds (the bond) across two tranches. This represents MTN Nigeria’s first issuance under its new N200 billion bond programme and third bond issuance in the Nigeria debt capital markets. RMB in Nigeria is delighted to have acted as joint issuing house and bookrunner, not only on this landmark bond issuance, but on all prior bond issuances from 2021 to date.
Despite the challenging macroeconomic environment, the bond was well received by the market and recorded participation from a wide range of investors, including domestic pension funds administrators, asset managers, banks, insurance companies, trustees, and high net-worth investors.
Chidi Iwuchukwu, Co-Head Banking Division, Rand Merchant Bank Nigeria Limited, commented: “The success of the transaction will enable MTN Nigeria to further diversify its funding sources and support long-term investments in critical Infrastructure. We remain committed to supporting MTN Nigeria’s continued success.”
Dalu Ajene, Deputy Chief Executive Officer, Rand Merchant Bank Nigeria Limited, said: “We are pleased to have advised on this landmark issuance, which reflects the depth of the Nigerian debt capital markets in supporting frequent issuers. MTN Nigeria is a strategic and important client to RMB, and we are committed to partnering with them to provide the required support in achieving all set objectives. We are grateful to the board and management of MTN Nigeria for trusting us as one of the financial advisers and look forward to working with the MTN team on subsequent capital markets issuances.”
RMB in Nigeria has over 15 years of transactional experience in Nigeria ranging from advisory on infrastructure projects, execution of key merger and acquisition mandates, to the provision of innovative funding solutions to support transactions across a range of sectors. As the Corporate & Investment Banking division of the FirstRand Group, the largest listed financial services group (by market capitalisation) in Africa, RMB’s business strategy leverages a market leading origination franchise to deliver an integrated value proposition to corporate and institutional clients across Africa.
MTN Nigeria is the largest mobile network operator (MNO) and undisputed market leader in Nigeria as measured by total mobile subscribers and active data users and robust financial profile alongside its unmatched investments in its infrastructure. MTN Nigeria is the only MNO with a 5G spectrum license and has commenced roll out of its 5G services to further strengthen its position in the marketplace.
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Contact:
Oluwayemisi Ogunbodede l RMB in Nigeria l Oluwayemisi.Ogunbodede@rmb.com.ng