<< Back             Poser >> MTN Nigeria Raises N75.18bn Via Commercial Paper MTN Nigeria Communication Plc has said that it has successfully raised N75.18 billion Series 11 & 12 Commercial Paper (CP) issuance under its N250 billion CP issuances programme. The company secretary, MTN Nigeria Communication, Uto Ukpanah in a statement stated that the telecommunication company had wanted to raise N50 billion in the issuance, stressing that the offer recorded a 150 per cent subscription with N75.18 billion issued to investors. Ukpanah in his signed statement stated that the proceeds of the issuance will be applied toward the company’s short-term working capital requirements. According to him, the 181-dy and 265-dy CP were issued at yields of 27.50per cent and 29 per cent, respectively, with an issue date of November 7, 2024, “The 265-day Series 12 CP was priced broadly at par with the 364-day Nigeria Treasury Bill Instrument, which closed at a yield of 29.84 per cent during the auction held on November 6, 2024. This yield was 384 basis points higher than the closing yield at the auction two weeks earlier. This represents a well-timed transaction for the company, as interest rates are expected to rise further following the outcome of the auction as monetary policy authorities continue to address interest and exchange rate pressure. “The success of the transaction is further demonstrated by the level of oversubscription despite the absence of pension funds following the recent suspension of their participation in a CP by the National Pension Commission. The offer recorded participation from assets managers, banks, insurance companies and other qualified institutional investors,” the statement added. The stock price of MTN Nigeria Communication traded flat at N170.00 per share as of November 15, 2024. Thisday Business News	From Luxury to Losses: How High Living Costs Impact Nigeria’s Hotel Industry The rising inflation in Nigeria is dealing a severe blow to the hotel industry, escalating operational costs and dampening customer demand as many operators are either closing shop or As Botswana gets new president in nearly 60 years, citizens expect social justice Gaborone last Friday played host to the inauguration of President Duma Boko, Botswana’s newly-minted leader.The post As Botswana gets new president in nearly 60 years, citizens expect social justice appeared first on Ghana Business Asia, the world's economic engine, prepares for Trump shock Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of factory relocations to the rest of the Advancements, AI could make 50% of workforce skills outdated – report Project Management Institute (PMI's) Global Megatrends 2024 report has revealed that nearly half of today's workforce skills could become outdated within two years due to advancements like generative AI. The post Advancements, AI could make 50% of workforce skills outdated – report appeared first on The Guardian Nigeria News - Nigeria and World China-Nigeria economic, trade relations head for new heights – envoy The acting Consul General of the Peoples Republic of China in Lagos, Jin Mingyu, has assured that China-Nigeria economic and trade relations are poised to reach new heights, as his country is committed to fresh investments in Nigeria.The post China-Nigeria economic, trade relations head for new heights – envoy appeared first on The Guardian Nigeria News - Nigeria and World Boeing to face civil trial over 2019 MAX crash Beleaguered aviation giant Boeing is set to confront another hurdle next week when it faces a civil trial over the March 2019 Ethiopian Airlines crash that killed 157 people. The MCAS was a flight stabilizing system that malfunctioned in both the Ethiopian Airlines and in the October 2018 Lion Air crash in Indonesia, which killed 189