The Management of MTN Nigeria Communications PLC had on Friday, 17 May 2019 sign a Loan agreement of 200 billion Naira, over a seven year period with Seven Banks In Nigeria.
This deal was disclosed by the Company Secretary Mr Utoh Ukpanah.
The consortium of banks in this deal include
The loan facility was coordinated by Citi Bank and Quantum zenith is the facility agent.
As said by the Secretary, the loan facility will fund MTN’s evolving Business opportunities and will also assist capital expenditure, working capital and also deliver enhanced customer relationship.
The CEO of MTN, Mr Ferdi Moolman, said this deal indicates the confidence of MTN in our Banking Firms.
With this deal, customers are in for improved services both in the voice and data services. More Infrastructures that will improve Customer Services will be built, while financing other running costs.