JOHANNESBURG Oct 6 South Africa's MTN
has raised $1 billion in two dollar bonds, the telecoms firm
said on Thursday, the first such issue by Africa's biggest
wireless carrier by sales since 2014.
MTN reported its first ever half-year loss last month,
dragged into the red by an agreement to pay a $1 billion fine in
its biggest market Nigeria for missing a deadline to cut off
unregistered SIM cards.
"Proceeds of the issue, which is due to settle on 13 October
2016, will be used for purposes of capital expenditure; to pay
down working capital facilities; and for general corporate
purposes," MTN said in a statement.
The firm, which does the bulk of its business in emerging
markets, said it had successfully priced notes of $500 million
maturing in February 2022 and another $500 million maturing in
The five year note has a coupon of 5.373 percent and the ten
year note 6.5 percent, compared to a coupon of 4.755 percent for
its last 10 year issue in 2014.
(Reporting by TJ Strydom; Editing by Joe Brock)