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. The company has R36-billion in debt across the group. — I-Net Bridge

Advertisting

Mabuza’s ‘distant relative’ scored big

Eskom’s woes are often because of boiler problems at its power plants. R50-billion has been set aside to fix them, but some of the contracts are going to questionable entities

ANC faction gunning for Gordhan

The ambush will take place at an NEC meeting about Eskom. But the real target is Cyril Ramaphosa

What the law could clarify this year

Lawfare: Major developments are on the cards where law and politics meet, including the first amendment to South Africa’s Bill of Rights

The secret ‘Warmonger’ at the SSA

A listening device acquired by the agency is at the centre of an alleged R600-million fraud operation
Advertising

Press Releases

New-style star accretion bursts dazzle astronomers

Associate Professor James O Chibueze and Dr SP van den Heever are part of an international team of astronomers studying the G358-MM1 high-mass protostar.

2020 risk outlook: Use GRC to build resilience

GRC activities can be used profitably to develop an integrated risk picture and response, says ContinuitySA.

MTN voted best mobile network

An independent report found MTN to be the best mobile network in SA in the fourth quarter of 2019.

Is your tertiary institution is accredited?

Rosebank College is an educational brand of The Independent Institute of Education, which is registered with the Department of Higher Education and Training.

Is your tertiary institution accredited?

Rosebank College is an educational brand of The Independent Institute of Education, which is registered with the Department of Higher Education and Training.

VUT chancellor, Dr Xolani Mkhwanazi, dies

The university conferred the degree of Doctor of Science Honoris Causa on Dr Xolani Mkhwanazi for his outstanding leadership contributions to maths and science education development.

Innovate4AMR now in second year

SA's Team pill-Alert aims to tackle antimicrobial resistance by implementing their strategic intervention that ensures patients comply with treatment.

Medical students present solution in Geneva

Kapil Narain and Mohamed Hoosen Suleman were selected to present their strategic intervention to tackle antimicrobial resistance to an international panel of experts.