MTN Uganda secures UGX 370 billion debt from five local banks
A photo collage of MTN CEO, Sylvia Mulinge (C), MTN CFO, Andrew Bugembe (L) and Paul Muganwa, Stanbic Bank's Head of Corporate and Investment Banking
MTN Uganda has secured UGX 370 billion (USD 100 Million) in debt financing in one of the largest local currency debt transactions in Uganda, which will be used by the telecom for general corporate purposes including the expansion and improvement of the network.
The syndicated debt facility from five local banks was 1.6x oversubscribed, in what the telecom described as, “reflecting robust co
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