Nigerian Breweries raises N100bn via Commercial Paper issuance

Adebayo Obajemu

Nigerian Breweries Plc has informed the Nigerian Exchange and the investing public of the issuance of its Commercial Paper (CP) programme with the launch of Series 1, 2 and 3 of the programme under its N100 billion CP programme which opens on 11th January, 2023.

Series 1 would be for a tenor of 91 days, Series 2 would be for 120 days and Series 3 would be for 154 days. The CP Programme aims to raise up to N20 billion to support the Company’s short-term funding needs.

The CP Programme continues to provide the opportunity for non-equity investors to invest in the Company, support the Company’s cost management initiatives and serve as an additional source of funding for the Company.