MTN Nigeria Communications PLC (MTN Nigeria or the Company) hereby notifies Nigerian Exchange Limited and the investing public of its N127 billion Series 1 & 2 Commercial Paper Issuance (the “Issuance”) under its registered N150 billion Commercial Paper Programme.

The Issuance comprised two tenors – a 184-day Serie issuance priced at a 7.50% yield and a 254-day Series 2 issuance priced at an 8.50% yield. Stanbic IBTC Capital Limited acted as Lead Arranger and Dealer, while Chapel Hill Denham Advisory Limited, Coronation Merchant Bank Limited, FBNQuest Merchant Bank Limited, FSDH Capital Limited, Standard Chartered Capital & Advisory Nigeria Limited and UCML Capital Limited acted as Joint Dealers.

The Issuance is in line with the Company’s strategy to diversify its financing options, with the proceeds being deployed towards working capital and general corporate purposes.