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
-
Former Upper West Minister Backs Dr Issahaku Moomin for NPP Treasurer Position
1 hour -
Legal Education Reform: Assafuah questions possible return of entrance exams under new bar training system
2 hours -
2026 Apostolic Visitation commences at Cedar Mountain Chapel
2 hours -
Gov’t urged to strengthen capacity of MMDAs to improve building permit regulation
2 hours -
Sugarcane farmers call off protest, set July deadline for government action on Komenda factory
3 hours -
Asafo-Adjei Ayeh questions effectiveness of World Cup Committee after Partey’s visa setback
3 hours -
Use diplomatic channels to secure Partey’s entry into Canada – Asafo-Adjei Ayeh to gov’t
3 hours -
Gov’t should have foreseen Partey’s visa challenge – Bosome Freho MP
3 hours -
UCC opens internal probe into death of Level 200 student
3 hours -
From invisible to influential : Why Africans must take personal branding seriously
4 hours -
Police rule out visible assault in death of UCC student found on beach as investigations continue
4 hours -
Education Minister mourns UCC student, orders full investigation into death
4 hours -
Loud and Green : Plastic is not waste, it is an opportunity – PlasticPreneur challenges Ghana’s perception of plastic pollution
5 hours -
Government failed in diplomatic engagements over Partey’s visa issue – Bosome Freho MP
5 hours -
Loud and Green : Young climate advocate calls for a shift from single-use plastics to tackle flooding
5 hours