MTN cuts debt with early settlement of $300 million in euro bonds
4:46 am Monday, September 05th, 2022
JOHANNESBURG (Reuters) – South African mobile operator MTN Group has reduced its debt further through early settlement of $300 million in euro bonds with a 2024 maturity date, it said on Monday, as part of efforts to deleverage non-rand debt faster.
“This brings MTN’s dollar-denominated debt down to 35% of total holding company debt on a H1 2022 pro forma basis,” the company said.
MTN Group finance chief Tsholofelo Molefe said the settlement would be funded from available cash balances.
(Reporting by Nqobile Dludla; Editing by David Goodman)
