Ferdi Moolman
A
seven-year medium term loan facility worth N200bn has been given to
MTN to Nigeria to fortify its network and services by a
consortium of twelve Nigerian banks.
A
two-year moratorium and a repayment plan of five years is also
structured with and denominated in Naira.
The
loan was provided by Citibank Nigeria, Diamond Bank, Ecobank,
Fidelity Bank Plc, First Bank Plc,
FCMB, FSDH Merchant Bank, Rand Merchant Bank, Standard
Chartered Bank, Stanbic IBTC, UBA and Union Bank.
With
this loan, MTN will be able to provide optimum services and
products for its over 55 million customers. The loan will also
enable MTN to fund it's capital expenditure, working capital and
other evolving business opportunities.
The
agreement was formally signed at the law office of Aluko &
Oyebode in Ikoyi, Lagos.
Chief
Executive Officer, MTN Nigeria, Ferdi Moolman who spoke at the
agreement signing ceremony said completion of the agreement
signposts confidence in MTN's commitment to Nigeria and the strength
of the strategic collaboration between MTN Nigeria and local
financial institutions in deepening the provision of ICT
services in Nigeria.
According
to him, "The signing of this loan facility is a major landmark
in our expansion programme in which we are making significant
investments.
"The
facility will enable us evolve the network to deliver convergent and
superior quality, drive voice capacity expansion and data
service penetration, maintain optimal capital structure and funding
level that support growth and expansion".
Ferdi
Moolman praised the participating financial institutions for
staying committed to MTN, adding that the loan has proven the
strength of the Nigerian financial institutions and
their confidence in MTN's visions, as well as both parties' joint
ability to stimulate significant economic growth.
Akin
Oyebode who represented Dozie said MTN couldn't have easily managed
operations the way it had for the past 17 years of operating in
Nigeria, without the support of the banks.
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