Audio By Carbonatix
Africa's biggest mobile operator, MTN, has announced the early settlement of $300 million of its dollar-denominated bonds.
This is part of a strategy to cuts its non-rand debt, which has now fallen to 35% of the group total.
In August 2022, MTN invited eligible holders of its $750 million Eurobond due to mature in November 2024 to tender their notes for purchase by the company for cash.
The offer had attracted tenders of more than $482 million, higher than the $250 million maximum set by the mobile operator.
As a result, MTN raised the final acceptance amount to $300 million, which will be paid on September 6, 2022.
The payment will be funded from available cash balances, and will reduce the ratio of non-rand debt from 42% at the end of June.
Latest Stories
-
Mayweather to fight kickboxer before Pacquiao rematch
17 minutes -
India and Canada reset ties with ‘landmark’ nuclear energy deal
26 minutes -
Interior Ministry releases funds to settle 2025 rent allowance arrears for security services
1 hour -
Ghana evacuates diplomatic staff from Iran; embassy shut indefinitely — Ablakwa
1 hour -
France to boost nuclear arsenal and extend deterrence to European allies
2 hours -
Chinese community in Ghana marks ‘Year of the Horse’ with grand new year festival
2 hours -
When regional instability becomes national risk: Ghanaian tomato traders killings
2 hours -
Photos: President Mahama meets Tanzania President Suluhu Hassan
2 hours -
Mahama calls for cessation of Iran-US-Israel conflict, urging return to dialogue
2 hours -
Fuel prices could rise if Middle East conflict escalates – ACEP Boss
3 hours -
Elsie Addo Awadzi: Leadership reflections, one year on; 7 lessons from 7 years in public office
3 hours -
Finance Minister announces expiration of DDEP-induced restrictions on domestic bond issuance
3 hours -
Gov’t urged to aid private nursing training colleges to ease burden on public ones
3 hours -
Kumasi Mayor vows to keep Kejetia Market free from highly inflammable materials
3 hours -
Ghana safe from fuel supply disruptions amid Middle East tensions – Dr Oppong
3 hours