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Prospect News home > News index > List of issuers M > Headlines for MTN (Mauritius) Investments Ltd. > News item
Published on 11/15/2023 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

MTN (Mauritius) gives tender results for 4.755% notes due 2024

By William Gullotti

Buffalo, N.Y., Nov. 15 – MTN (Mauritius) Investments Ltd. gave the results of its any-and-all cash tender offer for the remaining $450 million of its $750 million 4.755% notes due Nov. 11, 2024 (ISIN: XS1128996425, US55377XAA46), according to a notice on Wednesday.

As of the offer expiration at 5 p.m. ET on Nov. 14, $353,097,000 of the notes were tendered and accepted for purchase.

As previously reported, the issuer offered a purchase price of par plus accrued interest, with no pro rata scaling.

As no notes were tendered via guaranteed delivery procedures, settlement will occur as scheduled on Nov. 16, and no further announcements will be made regarding the offer.

Following settlement, $96,903,000 of the issue will remain outstanding.

As previously reported, company said the purpose of the offer is to optimize its debt maturity profile and currency mix. In addition, the offer will provide liquidity to holders whose notes are accepted in the offer.

Notes purchased under the offer will be canceled and will not be reissued or resold.

The dealer managers for the tender offer are Absa Bank Ltd. (+27 83 292 8477; attn.: Victor Germeshuizen; IBDDCM@absa.africa), J.P. Morgan Securities plc (+44 20 7134 2468; em_europe_lm@jpmorgan.com) and MUFG Securities Americas Inc. (212 405-7481, 877 744-4532, +44 20 7628 5555, +33 1 70 91 42 55; DCM-LiabilityManagement@ int.sc.mufg.jp).

The tender agent is Morrow Sodali Ltd. (+44 20 4513 6933, 203 609-4910, +852 2319 4130; mtn@investor.morrowsodali.com; https://projects.morrowsodali.com/mtn).

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

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


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