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Prospect News home > News index > List of issuers Tenders > Headlines for 2022 > News item
Published on 9/6/2022 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

South Africa’s MTN (Mauritius) gives results of oversubscribed tender

Chicago, Sept. 6 – MTN (Mauritius) Investments Ltd. announced the final results of its tender offer for its $750 million outstanding 4.755% notes due 2024 (ISIN: XS1128996425), according to an announcement.

The issuer was offering to buy up to $250 million nominal amount of the notes at 101, plus interest to the settlement date. However, the cap was raised to $300 million after the deadline.

The company received valid tenders from holders of $482,708,000 nominal amount of the notes.

Due to the raised $300 million cap, a scaling factor of 59.48499% is being applied to the tendered notes.

The tender offer only applied to the Regulation S notes. The Rule 144A notes were excluded from the offer.

The offer expired at 11 a.m. ET on Aug. 31.

Settlement will take place on Sept. 6, extended from an initially announced Sept. 2.

The dealer managers for the offer are Merrill Lynch International (+44 20 7996 5420, DG.LM-EMEA@bofa.com), MUFG Securities EMEA plc (+44 20 7577 4218, liability.management@mufgsecurities.com) and Standard Chartered Bank (+44 20 7885 5739, +65 6557 8286, +852 3983 8658, liability_management@sc.com).

Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, mtn@investor.morrowsodali.com, https://projects.morrowsodali.com/mtn) is the tender agent.

The notes are guaranteed by MTN Group Ltd., Mobile Telephone Networks Holdings Proprietary Ltd., MTN International (Mauritius) Ltd., MTN International Proprietary Ltd., Mobile Telephone Networks Proprietary Ltd. and MTN Treasury Ltd.

Based in Johannesburg, Mobile Telephone Networks is a network provider that serves South Africa.


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