MTN secures N200bn loan from Diamond bank, 11 others

MTN Telecommunications Nigeria Limited, today, signed a N200 billion major loan deal with twelve Nigerian banks. The medium-term loan will help facilitate the company’s expansion plans, particularly the expansion of its operations into underserved parts of Nigeria such as villages.

The 12 banks are Diamond Bank Plc, Fidelity Bank Plc, First Bank Nigeria Plc, Standard Chartered Bank Plc, Stanbic IBTC Bank Plc, Union Bank of Nigeria Plc, and Unity Bank of Nigeria Plc.

Citibank Nigeria Limited, Ecobank Nigeria Plc, First City Monument Bank Plc, FSDH Merchant Bank Limited and Rand Merchant Bank Nigeria Limited were also part of the deal.