Nigerian Breweries Plc, is set to raise about N45 billion from the local debt market.
In a disclosure to the Nigerian Stock Exchange (NSE) on Friday, the company said it intends to get the fresh capital from the sale of commercial paper.
It stated that subscription for the CP programme, coming in Series 5 and 6, will open on Monday, February 3, 2020.
Nigerian Breweries further disclosed that while the Series 5 would be for a tenor of 180 days, Series 6 would be for 270 days and both will support its short-term funding needs.
“Nigerian Breweries Plc is pleased to inform the Nigerian Stock Exchange (NSE) and the investing public of the continuation of its Commercial Paper (CP) programme with the launch of Series 5 and 6 of the programme which opens on February 3, 2020.
“While Series 5 would be for a tenor of 180 days, Series 6 would be for 270 days, and the aim is to raise up to N45 billion to support the company’s short terms funding needs,” the notice said.
The firm also said, “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.”
The Brigade Commander of the 31 Artillery Brigade, Nigerian Army, Minna, Brigadier General M. U.…
Travellers from Keffi to Port Harcourt have been assured of a seamless journey by June…
Family, fellow gospel artists, and admirers of Bolaji Olarewaju, popularly known as Big Bolaji, will…
At least 1,006 foreign nationals were granted Nigerian citizenship between 2017 and 2023 through naturalisation…
In another remarkable act of humanitarian service and patriotism, Nigeria's Air Peace, has successfully evacuated…
The Peoples Democratic Party (PDP) in Jigawa has successfully held its state congress, electing new…
This website uses cookies.