LEADING beer giant, Nigerian Breweries Plc, has announced plan to raise N20 billion from commercial paper issuance to support its short-term capital, working capital and other cash demand from the local debt market.
The foremost brewery company told the Nigerian Exchange Limited and the investing public about the issuance which it says comes under its Commercial Paper programme.
The company has a window to raise short-term funds via the issuance of series 1, 2 and 3 under its N100 billion commercial paper programme which opens on January 11.
It said series 1 would be for a tenor of 91 days, Series 2 120 days, and Series 3 for 154 days.
According to the company, the commercial paper programme continues to provide the opportunity for non-equity investors to invest, support its cost management initiatives and serve as an additional source of funding.
