MTN signs N 200 billion Loan after NSE listing   

May 17 (Lagos) -  MTN Communications Nigeria Plc ( MTNN )said on Friday it has signed a 200 billion Naira ($653 million) loan with seven local banks, a day after it floated its shares on the Lagos stock market. Company said it plans to use the funds to finance capital expenditure and working capital. 

The seven-year loan deal coordinated by Citibank was signed with a consortium of Access Bank ( ACCESS ), Guaranty Trust Bank ( GUARANTY ), Zenith Bank ( ZENITHBANK ), Fidelity Bank ( FIDELITYBK ), FCMB , United Bank for Africa ( UBA ) and First Bank ( FBNH ) .

MTN Nigeria on Friday said the new debt is part of a programme to raise debt in Nigeria, aimed at mitigating exchange rate volatility. 

The Company said it raised a loan of 200 billion Naira in 2018.

reporting for on Friday, May 18 2019 from Lagos, Nigeria
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