International law firm Freshfields Bruckhaus Deringer has advised leading emerging market mobile operator, MTN Group, on its US$750,000,000 4.755% guaranteed bond issuance, its first issuance into the international capital markets. The net proceeds of the bond issue will be used by MTN Group for general corporate purposes. The bond matures in 2024.

The Freshfields team was led by partners Stuart Grider and Duncan Kellaway supported by associates Joshua Deutsch, Nick Hayday, Chioma Amobi and Adam Ajlouni.

Freshfields partner Stuart Grider commented, ‘We were delighted to have advised MTN on its debut international capital markets issuance. MTN is one of Africa’s, and the world’s, most dynamic and respected companies. This bond issuance will help MTN continue to meet its strategic vision of enhancing mobile, digital and data connectivity across developing markets.’

Freshfields partner Duncan Kellaway added, ’This transaction, which ran concurrently for us with the sovereign bond tap issue by the Republic of Kenya which we also advised on, demonstrates the growing strength of the Freshfields Africa capital markets practice.

‘We see the African market as an increasingly important component of the international capital markets and our own practice, as the continent’s companies and national economies continue to grow at an impressive rate. We have a number of other African transactions in the pipeline and this is a trend that we see continuing,’, he added.