MTN primed for 'opportunistic' deal-making
Listed mobile carrier MTN is positioned to take advantage of opportunistic deal-making activity due to the high levels of cash on its books and the lack of a need to undertake an extensive debt roll-out programme, the company said on Wednesday.
“We will be a little more opportunistic in the interim period. Our debt requirements are fulfilled and there is no real need for any bond,” general manager of corporate finance Debbie Millar said at a debt capital market update conference.
The company has undertaken R6.8-billion in debt issuance to date and Millar said the company’s debt programme would retain a “steady course”.
She said, however, that the company would “look around more” in the third quarter of the year and probably do something in the fourth quarter.
The conference was jointly sponsored by the Association of Corporate Treasurers of Southern Africa and the Debt Issuers Association, and drew attendees from the treasury, the JSE, bank and credit rating communities.
MTN is due to release its next set of results on August 17.
