Nigerian Breweries Targets Non Equity Investors With Commercial Paper Offer

Nigerian Breweries Plc has announced the issuance of its Commercial Paper (CP) programme with the launch of Series1,2, and 3 of the programme, under its N100 billion CP progamme which opens on January 11, 2023.

According to a notice filing to the Nigerian Exchange Liimited (NGX), which was signed by the company secretary Uaboi G. Agbebaku, “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”.

He explained that 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.