Nigerian Breweries Plc (“the Company”) is pleased to inform The Nigerian Stock Exchange (NSE) and the investing public of the continuation of it’s Commercial Paper (“CP”) program with the launch of Series 3 and 4 of the programme which opened on the 24th of June, 2019. While Series 3 would be for a tenor of 91 days, Series 4 would be for 172 days, and the aim is to raise up to N15 billion to support the Company’s short terms funding needs.
Earlier this year, the Company had successfully concluded the Series 1 and 2 of its renewed N100 billion CP program.
In addition to providing an opportunity for non-equity investors to invest in the Company, the CP program continues to support the Company’s cost management initiatives with the overall aim of reducing its cost of fund. The CP also serves as an additional source of funding for the Company.