NIGERIAN Breweries has 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 company has launched Series 9 and 10 of the programme for this purpose.
This is according to a notice to the Nigerian Stock Exchange (NSE), and signed by the Company’s Secretary, Uaboi G. Agbebaku.
“Nigerian Breweries Plc is pleased to inform the Nigerian Stock Exchange and the investing public of the continuation of its “CP” (Commercial Paper) programme with the launch of Series 9 and 10 of the programme
“Series 9 of the Commercial Paper programme would be for a tenor of 180 days, while Series 10 would be for 270 days. However, the launch of the CP opens today 23rd October 2020,” the notification stated.
So far, Nigerian Breweries has raised up to N90.12 billion since the start of the year, opening with N52.76 billion raised from Series 6 between February 12 to November 6, 2020.
N13.03 billion was raised from Series 7 from April 15 to October 14, 2020, while N24.33 billion was raised from Series 8 from April 15 to January 8, 2021.
With the recent issuance of the Series 9 and 10 CP, the total amount of funds will be N110.12 billion.
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