MTN Nigeria has secured loan facilities
totalling $3bn (about N470bn) from a consortium of local and
international financial institutions to enable it expand, modernise and
improve its network infrastructure.
Zenith Bank Plc led the financiers with
N55bn, followed by Guaranty Trust Bank Plc and First Bank of Nigeria
Limited, which raised N40bn each; while Access Bank Plc and Fidelity
Bank Plc contributed N35bn and N26.25bn, respectively.
The loan, according to MTN, consists of $1.8bn in additional facilities and $ 1.2bn in restructuring of existing local facility.
The deal was formally sealed by top officials and board members of MTN and the participating banks in Lagos on Tuesday.
The Chief Executive Officer, MTN, Mr. Brett Goschen, said the signing of
the loan deal signposted another strategic collaboration between the
telecoms service provider and financial institutions to deepen
telecommunications services in Nigeria.
Source : punch ng
Source : punch ng
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