Published: June 15, 2010
Telecoms company agrees country’s largest local currency syndication.
MTN Nigeria, a subsidiary of African telecoms group MTN, has agreed a new US$2bn loan facility to support its network expansion.
The loans centres on a five-year facility of N250bn (US$1.6bn) from a consortium of 15 Nigerian banks, the country’s largest ever Naira denominated syndication.
The company has also raised a US$250mn export credit facility from KfW-IPEX Bank and a US$200mn buyer's credit facility from the Industrial and Commercial Bank of China, both to support equipment purchases.
Freshfields Bruckhaus Deringer advised MTN Nigeria.