Nigerian Breweries Set To Raise N100b To Boost Growth

Nigerian Breweries Plc (“Nigerian Breweries” or “the Company”) said it plans to raise N100 billion in debt to boost liquidity and support growth.

Nigerian Breweries stated that the programme has been established pursuant to the Central Bank of Nigeria Guidelines on the Issuance and Treatment of Bankers Acceptances and Commercial Paper Quotation Rules of the FMDQ.

The Commercial Paper notes, under the programme, will be traded over the counter via the FMDQ OTC Plc platform.

The programme is expected to complement the Company’s other sources of working capital, whilst diversifying its funding sources to include non-bank investors.

Nigerian Breweries disclosed that the professional parties to the transaction are Stanbic IBTC Capital Limited and FBN Capital Limited as Transaction Advisors; Banwo & Ighodalo as Legal Counsel; KPMG Professional Services as Auditors and Stanbic IBTC Bank Plc as Issuing, Calculation and Paying Agent.