MTN Ghana has announced the signing of a GH\u00a2510 million syndicated loan facility arranged jointly by Ecobank Ghana Limited, and Ecobank Development Corporation (EDC), to finance its infrastructure expansion and working capital needs across the country.<\/p>\n
The facility, with five years tenure, comes in two parts; the fixed five year term facility of GH\u00a2 345 million with 24 months moratorium to support capital expenditure plans; and the Revolving Credit Facility of GH\u00a2165 million over the five year period for working capital and general corporate purposes.<\/p>\n
Speaking at a ceremony to sign the loan agreement, the Chief Finance Officer and Ag. Chief Executive Officer of MTN Ghana, Modupe Kadri, said, \u201cMTN Ghana requires flexible funding to meet our esteemed stakeholders\u2019 expectations. We are therefore pleased that today through this syndicated facility, we have succeeded in partnering nine (9) local banks to raise GH\u00a2 510 million\u201d.<\/p>\n
\u201cThe huge interest in MTN\u2019s business is a clear testament to how successful our business is, and the excellent financial health the business enjoys\u201d he added.<\/p>\n
The signing of the loan facility follows an initial debt raising transaction in 2012 of $300 million, and its successful repayment by MTN Ghana in May 2017.<\/p>\n
MTN\u2019s track record and strong leadership position paved the way for yet another successful capital market transaction.<\/p>\n
This big-ticket Ghana transaction was arranged jointly by Ecobank Ghana Limited and Ecobank Development Corporation (EDC), as Mandate Lead Arrangers with Barclays Bank Ghana Limited as joint facility and Security Agents.<\/p>\n
The syndicate banks are: Ecobank Ghana Limited, GCB Bank Limited, Standard Chartered Bank Ghana Limited, Barclays Bank Ghana Limited, Stanbic Bank Ghana Limited, Societe Generale Ghana, Zenith Bank Ghana Limited, Guaranty Trust Bank Ghana Limited and Fidelity Bank Limited.<\/p>\n
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By: citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
MTN Ghana has announced the signing of a GH\u00a2510 million syndicated loan facility arranged jointly by Ecobank Ghana Limited, and Ecobank Development Corporation (EDC), to finance its infrastructure expansion and working capital needs across the country. The facility, with five years tenure, comes in two parts; the fixed five year term facility of GH\u00a2 345 […]<\/p>\n","protected":false},"author":5,"featured_media":383590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,718,11],"tags":[7407,3,7117,628],"yoast_head":"\n