MTN Group, Africa’s largest mobile-phone operator by sales, said it entered three loan agreements, raising more than $1.3bn as the company markets a potential bond.The company is being provided with $1bn and R4.8bn from local and international banks and financial institutions, Johannesburg-based MTN said in an e-mailed response to questions on Tuesday. MTN is on a roadshow in the US and UK this week to gauge investor appetite for the sale of debt securities."These financing arrangements are in line with the MTN’s funding strategy, which aims to improve its debt maturity structure on an ongoing basis and maintain adequate bank facility headroom to support its credit rating," the company said. "MTN’s funding strategy further aims to maintain a balance of operating currency and dollar-denominated debt."MTN’s move to attract funding comes after the company reported its first-ever half-year loss in August, partly caused by an agreement to settle a record 330-billion naira ($1bn) fine in ...
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