Nigerian Breweries eyes N20bn as Commercial Paper programme opens

Nigerian Breweries

Nigerian Breweries Commercial Paper (CP) programme opened today October 26, 2020.

Nigerian Breweries had announced the continuation of its N100 billion Commercial Paper (CP) Issuance Programme in a bid to raise up to N20 billion to support its short term funding needs.

The CP now launched in three Series – 9, 10, and 11, the brewer said while notifying investors of a rearrangement of this tranche of its Commercial Paper programme.

Related News

While Series 9 would be for a tenor of 120 days, Series 10 and 11 would be for 183 days and 240 days respectively, Nigerian Breweries told investors at the Nigerian Stock Exchange (NSE).

“Other details communicated in the earlier notification of the CP programme remain unchanged”, it said.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp