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Nigerian Breweries targets N15bn from Series 3 & 4 Commercial Paper Programme

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Nigerian Breweries Plc on Tuesday June 25 informed the Nigerian Stock Exchange (NSE) and the investing public of the continuation of its Commercial Paper (CP) programme with the launch of Series 3 and 4 of the programme.

Earlier this year, the Company had successfully concluded the Series 1 and 2 of its renewed N100 billion CP programme.

The Series 3 and 4 of the Commercial Paper programme opened on Monday June 24, 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 N15billion to support the Brewer’s short terms funding needs.

In addition to providing an opportunity for non-equity investors to invest in the Company, the CP programme 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.