MTN GROUP LIMITED - MTN Nigeria Communications Plc: Issuance of Series III and Series IV Commercial Papers

MTN Nigeria Communications Plc:  Issuance of Series III and Series IV Commercial Papers

MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06
Share code: MTN
ISIN: ZAE000042164
("MTN Group“)


MTN NIGERIA COMMUNICATIONS PLC: ISSUANCE OF SERIES III & IV COMMERCIAL
PAPER UNDER THE N200 BILLION COMMERCIAL PAPER PROGRAMME AND PROPOSED
SERIES I ISSUANCE UNDER THE DEBUT N200 BILLION BOND ISSUANCE PROGRAMME


Shareholders are advised that MTN Nigeria Communications Plc (‘’MTN
Nigeria’’ or ‘’the Company’’) has successfully completed the issuance
of Series III and Series IV Commercial Papers (“CP Issuance”). The
proceeds from the Series III and IV CP Issuance will be deployed
towards the Company’s working capital and general corporate purposes.

The CP Issuances were undertaken in line with the Company’s strategy
to diversify its financing sources. In November 2020, MTN Nigeria
obtained the approval of Financial Markets Dealers Quotations (“FMDQ”)
Securities Exchange Plc to increase the Company’s CP programme from
N100,000,000,000 to N200,000,000,000; following the very successful
inaugural Series I and Series II CP Issuances in June 2020. The Company
confirms that the Series I and Series II CP Issuances - of an aggregate
value of N100,000,000,000 - have been redeemed.

The book build for the Series III and Series IV CP Issuances opened
on Thursday, 11th March 2021 and closed on Friday, 19th March 2021. The
Series III CP cleared at a discount rate of 6.7652% and raised
N19,765,447,000; and the Series IV cleared at a discount rate of
7.5546% and raised N53,742,807,000. The aggregate CP Issuance is
N73,508,254,000 across both tenures.

MTN Nigeria also wishes to advise that the Company has obtained the
approval of the Securities & Exchange Commission to launch a Bond
Issuance Programme. The Company will issue a Series I, 7-Year Fixed
Rate Bond (“Series 1’’) under a debut N200 billion Bond Issuance
Programme (“Bond Issuance Programme”). The Bond Issuance Programme
further reinforces the Company’s strategy of diversifying its funding
sources. A final decision on the launch of the Series I Bond will be
taken imminently, subject to prevailing market conditions.


Fairland

08 April 2021

Lead Sponsor
J.P. Morgan Equities South Africa Proprietary Limited


Joint Sponsor
Tamela Holdings Proprietary Limited

Date: 08-04-2021 02:36:00
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