© Reuters. FILE PHOTO: A shopper walks past an MTN shop at a mall in Johannesburg, South Africa, March 2, 2017. REUTERS/Siphiwe Sibeko/File Photo
JOHANNESBURG (Reuters) – South African mobile operator MTN Group has reduced its debt further through early settlement of $300 million in euro bonds with a 2024 maturity date, it said on Monday, as part of efforts to deleverage non-rand debt faster.
“This brings MTN’s dollar-denominated debt down to 35% of total holding company debt on a H1 2022 pro forma basis,” the company said.
MTN Group finance chief Tsholofelo Molefe said the settlement would be funded from available cash balances.
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