Nigerian Breweries has revealed plans to raise N45bn from its commercial paper issuance.

The company announced the launch of Series 5 and 6 of its commercial paper programme by filing a notice at the Nigerian Stock Exchange.

The notice said the programme opened on February 3, 2020.

It said the Series 5 had a tenor of 180 days while Series 6 had a tenor of 270 days.

The notice read in part, “The aim is to raise up to N45bn to supplement the company’s short-term funding needs.”

Nigerian Breweries in 2019 successfully concluded the Series 1 to 4 of its renewed N100bn commercial paper programme.