Nigerian Breweries issues commercial paper of N25 billion.

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According to a regulatory filing acquired, Nigerian Breweries Plc has disclosed a proposal to raise N25bn through the sale of commercial paper to support the company’s short-term working capital and other finance needs.

In a report headed “Series 4, 5 And 6 Of The Commercial Paper Programme” and signed by the Company’s Secretary, Uaboi Agbebaku, the business alerted the Nigerian Exchange Limited and the investing public about the issue.

According to the brewery, the series of commercial papers began publication on Friday, April 28, 2023, and ended on May 3, 2023.”Series 4 is for a tenor of 95 days (with an implied yield of 12.5%), Series 5 for 186 days (with an implied yield of 13.0%),” the announcement said in part.

Punch

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