MTN Nigeria to tap debt market in first quarter – CFO

MTN Nigeria plans to tap the debt market in the first quarter and has applied to the Nigerian Securities and Exchange Commission for approval, its chief finance officer said on Wednesday.

The local unit of South Africa’s telecoms group MTN intends to issue debt to optimise its funding costs, CFO Modupe Kadri told an analyst call, without disclosing the amount the company intends to raise.