MTN Nigeria has proposed the issuance of up to N100 billion series 6&7 commercial paper notes to diversify its financing options.
This was disclosed via an official statement signed by Company Secretary, Uto Ukpanah to Nigeria Exchange Limited.
According to the statement, the issuance of commercial paper notes is part of the company’s strategy to diversify its financing options, with the funds deployed towards working capital and general corporate purposes.
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Commercial paper refers to a short-term, unsecured debt obligation that is issued by financial institutions and large corporations as an alternative to costlier methods of funding.
It is a money market instrument that generally comes with a maturity of up to 270 days
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