{"id":36402,"date":"2013-04-23T10:19:17","date_gmt":"2013-04-23T08:19:17","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=36402"},"modified":"2013-04-23T17:09:18","modified_gmt":"2013-04-23T15:09:18","slug":"mtn-in-3-billion-loan-deal","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/36402\/mtn-in-3-billion-loan-deal\/","title":{"rendered":"MTN in $3 billion loan deal"},"content":{"rendered":"

MTN Group<\/a> is set to sign a $3 billion loan facility with a consortium of banks on Tuesday (23 April).<\/p>\n

The telecom operator said in an invitation to the signing that the medium-term facility will be signed on Tuesday.<\/p>\n

According to Nigeria’s National Mirror, the loan facility is meant for the entire group, which covers 22 countries\u00a0in the MEA region. However, the group’s Nigerian operation will\u00a0receive about half ($1.5 billion) of the total\u00a0loan\u00a0in order to\u00a0expand its network infrastructures in the country.<\/p>\n

The Mirror said that South Africa was set to\u00a0receive\u00a0an allocation of R5 billion.<\/p>\n

However, MTN Nigeria said that\u00a0the syndication and the entire amount is meant for\u00a0MTN Nigeria\u00a0only, and will fund the group’s 2013-15 business plan.<\/p>\n

MTN boss\u00a0Sifiso Dabengwa<\/a>\u00a0recently told Reuters that the group could spend up to $8 billion on an acquisition and is looking for targets on the continent, the Middle East and Southeast Asia.<\/p>\n

\u201cGrowth through M&A is still an important part of our strategy,\u201d he said. \u201cAnything between $4 and $8 billion is something that we could look at.\u201d<\/p>\n

MTN is currently one of\u00a012 groups shortlisted for two telecoms licences for Myanmar and\u00a0has also been linked with a 53% stake in Maroc Telecom<\/a>, currently held by France-based Vivendi S.A<\/a>, although the group declined to comment on speculation.<\/p>\n

The group is believed to be in talks with several banks to raise funding for the deal, valued at $6 billion, according to UK based news provider TMT Finance, who cited three sources.<\/p>\n

More on MTN<\/h3>\n

MTN bidding for Maroc Telecom?<\/strong><\/a><\/p>\n

MTN could spend R71bn on acquisition: CEO<\/strong><\/a><\/p>\n

Telecom\u2019s hottest property<\/b><\/a><\/p>\n

MTN targeting South East Asia?<\/strong><\/a><\/p>\n

Telkom shuts the door on KT Corp revival talks<\/strong><\/a><\/p>\n

What MTN\u2019s top dogs earn<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MTN Group is set to sign a $3 billion loan facility with a consortium of banks, with the funds set to go towards its Nigerian operation.<\/p>\n","protected":false},"author":10,"featured_media":4815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[34],"tags":[26,5611,28,1890,5612],"class_list":["post-36402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-maroc-telecom","tag-mtn","tag-sifiso-dabengwa","tag-vivendi-s-a"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/36402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=36402"}],"version-history":[{"count":16,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/36402\/revisions"}],"predecessor-version":[{"id":36448,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/36402\/revisions\/36448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/4815"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=36402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=36402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=36402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}