Mtn nigeria signs n200bn syndicated loan for network expansion

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Mtn Nigeria Signs N200bn Syndicated Loan for Network Expansion

MTN Nigeria, a leading telecommunications company in Nigeria, has signed a N200 billion (approximately $533 million) syndicated loan agreement to finance its network expansion and upgrade projects.

The loan was arranged by a consortium of Nigerian banks, including Zenith Bank, Access Bank, Guaranty Trust Bank, and United Bank for Africa. The loan has a tenor of 5 years and is expected to be used to improve the company's network infrastructure, including the deployment of 4G LTE technology and the expansion of its fiber optic network.

The loan is a significant milestone for MTN Nigeria, which has been investing heavily in its network infrastructure to improve its services and meet the growing demand for data and voice services in Nigeria. The company has been expanding its 4G LTE network across the country, and the loan will enable it to accelerate this process.

The loan agreement was signed by MTN Nigeria's Chief Financial Officer, Modupe Sholanke, and the CEOs of the participating banks. The deal is expected to support the company's growth strategy and contribute to the development of Nigeria's telecommunications sector.

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