MTN Cameroon secures XAF60bn loan from five banks

12 Dec 2016

MTN Cameroon has announced the signing of a syndicated medium term loan of XAF60 billion (USD96.6 million), representing the third and final part of a facility agreement signed in June 2015 by the operator and five banks led by Citibank Cameroon. Within the framework of that loan agreement, MTN Cameroon secured a three-part facility comprising of a fixed portion of XAF30 billion, a revolving portion of XAF30 billion, and an Accordion Facility which was successfully concluded last week.

MTN commented that the loan, which is repayable over a period of five years, will enable it to further finance its ‘ambitious investment programme for the benefit of the Cameroonian consumer through the provision of premium digital products and services to enhance communication, productivity and connectivity following the award of the 3G/4G licence on 11 March 2015 by the government of Cameroon’.

Cameroon, MTN Cameroon