SENS Note - 06 July 2006

MTN successfully raises R6.3 billion

MTN has announced the results of its maiden foray into the South African debt capital market, in what is the biggest capital raising by a corporate in this market's history. MTN had communicated to the market prior to the issue, that the company would be comfortable to raise between R6 billion and R8 billion. Total book size exceeded R10.bn, however giving consideration to other available funding in respect of the Investcom transaction the final issue size was settled at R6.3bn, split between a R5 billion 4 year bond and R1.3 billion 8 year bond. The bonds priced at spreads of 145 bps and 150 bps above the government R153 and R201 benchmarks respectively.

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