MTN Nigeria Communications PIc’s €100 Million Financing Round Udo Udoma & Belo-Osagie (UUBO) advised the European Investment Bank (EIB) on its €100 million financing of MTN Nigeria Communications Plc. Norton Rose also advised EIB. The investment, which represents EIB’s largest ever financing for high-speed telecommunications in Africa, will be used to aid MTN’s expansion programme in bringing 4G coverage to Nigeria and expanding broadband access in line with its Ambition 2025 strategy. Over 74 million customers are expected to benefit from the expanded digital communications infrastructure, which is targeted at the Lagos and Ogun states. “We are committed to leading digital solutions for Nigeria’s progress,” said Karl Toriola, CEO of MTN Nigeria. “This requires the continuous upgrade and expansion of our infrastructure to enable us to deliver superior service. The €100 million financing agreed with the EIB will accelerate 4G coverage, enhance network capacity and drive innovation that will benefit our customers.” UUBO acted as Nigerian counsel to EIB with a team led by banking and finance partners Yinka Edu and Onyinye Okafor, together with senior associates Victor Samuel and Modupe Balogun, as well as associate Toluwalope Adedokun. ABOUT THE DEAL 88 LAWYERMONTHLYMARCH 2023 Onyinye Okafor Udo Udoma & Belo-Osagie
RkJQdWJsaXNoZXIy Mjk3Mzkz