By Publisher
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MTN Nigeria is set to return to the market to source N50 billion in commercial paper.
The company, which is Africa’s largest wireless operator, on Monday made its intention known in a statement.
This is its first since raising N72.1 billion last November.
Una note to a note to the Nigerian Exchange, MTM explained that the issuance is part of the its strategy to diversify its funding sources.
It expressed the hopes of using the funds to bridge the working capital gap in the short term.
The Nigerian operation is issuing commercial paper for the first time this year unlike last year when it raised N375 billion after going to the market four times.
