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MTN Nigeria Gets N200B from 12 Banks

Nigerian banks - they are amazing! Yes, N200 billion, from 12 banks, to MTN Nigeria. Can we say finally that MTN Nigeria IPO is on cooler for 2018?

Telecommunications Company, MTN Nigeria, has secured a N200 billion medium-term loan agreement from a consortium of 12 Nigerian banks.This comes as the firm winds down next year, the repayment of a previously syndicated loan of N329 billion borrowed in 2013 for capital expenditure and working capital, to which it had kept to the servicing agreements.

The loan deal, which was sealed yesterday in Lagos, is to allow MTN expand its services to other parts of the country, especially the underserved and unserved areas.