MTN cuts foreign debt by settling R6.5bn in bonds
The mobile operator issues a cash offer to eligible holders for $450m left of the original $750m notes due in November 2024
MTN has paid down R6.5bn in debt as it further reins in its borrowings, particularly foreign-denominated debt.
In line with its strategy to deleverage nonrand debt faster and its medium-term target to maintain group or holding company leverage below 1.5-times, Africa’s largest mobile operator issued a cash offer to eligible holders for the $450m it has left of its original $750m 4.755% notes due in November 2024...
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