August 16, 2018 / 9:57 AM / a year ago

MTN Nigeria signs 200 bln naira loan with lenders

LAGOS, Aug 16 (Reuters) - MTN Nigeria said on Thursday it had signed a 200 billion naira ($636 million) loan facility with a consortium of 12 local lenders to fund capital expenditure and working capital.

The seven-year facility will enable MTN expand its voice network and data service, the company said in a statement. It said the loan denominated in the local currency has a two-year moratorium and a five-year repayment plan.

$1 = 314.50 naira Reporting by Chijioke Ohuocha, editing by David Evans

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