Nigerian Breweries expands CP programme to raise N20bn

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Nigerian Breweries Plc, the nation’s leading brewing firm on Monday informed the Nigerian Stock Exchange (NSE) and the investing public of a rearrangement of its next tranche of Commercial Paper (CP) programme to open Monday.

A notification at the NSE signed by Uaboi G. Agbebaku, Company Secretary said the programme will now be launched in three Series – 9, 10 and 11 instead of the two series earlier announced.

“While Series 9 would be for a tenor of 120 days, Series 10 and 11 would be for 183 days and 240 days respectively,” the notice said.

NB’s programme would to raise up to N20 billion to support the Company’s short-term funding needs.