Nigerian Breweries targets N48bn from Commercial Paper issuance

Nigerian Breweries Plc has informed the Nigerian Stock Exchange and the investing public of the continuation of its Commercial Paper (CP) programme with the launch of Series 7 and 8 of the programme which will open on April 6, 2020.

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.

While Series 7 would be for a tenor of 182 days, Series 8 would be for 270 days. The CP Programme aims to raise up to a maximum of N48 billion to support the Company’s short-term funding needs.