Nigerian Breweries Set to Raise More Funds
It was not long ago that the brewery giant, Nigerian Breweries Plc launched series 5 and 6 Commercial Paper (CP) to raise N45 billion to support its short-term funding needs, the firm is set to launch series 7 and 8 in a bid to raise more funds.
The CP programme, which will open on April 6, 2020, is aimed at raising a maximum amount of N48 billion in order to support the company’s short term funding needs.
This was disclosed in a letter to the Nigerian Stock Exchange, NSE signed by Nigerian Breweries Plc’s company secretary, Uaboi G. Agbebaku.
According to the company, while series 7 will be for a tenor of 182 days, the series 8 will be for 270 days.
