September 24, 2018

Nigerian Breweries PLC.

Nigerian Breweries PLC.

 

Nigerian Breweries Plc. N11.08 billion Series 13-15 Commercial Papers.

Deal Description:

Nigerian Breweries Plc is a Nigeria-based brewing company, it is the pioneer and largest brewing company in Nigeria which exports to other parts in West Africa. The company is engaged in brewing, marketing and selling of lager, stout, non-alcoholic malt drinks and soft drinks. Popular Brands under Nigerian Breweries

include Star lager beer; Gulder lager beer, Maltina, Legend Extra Stout; Amstel Malta; Heineken lager beer; Maltina Fayrouz, Star Lite and Star Radler, among others. The company operates over 10 breweries and approximately two malting plants located in Aba and Kaduna, Nigeria. It also focuses on ancillary business, which includes manufacturing cans, labels, cartons and bottles. It also has an export business.

In 2015, Nigerian Breweries PLC (NB) established its N100 billion CP programme to augment its short-term funding requirement. It represented the largest CP programme to be established by a non-bank corporate at the time. The company issued the Series 13 and 14 CPs in May 2018 and the Series 15 CP in July 2018 raising N1.08billion and N10billion respectively. The issues offered investors attractive yield over reference FGN’s and afforded institutional buyers good credit for portfolio diversification purposes, while supporting the issuers short term funding needs and augmenting its working capital.

 

Nigerian Breweries PLC.

N12.23 billion 90-day, 180-day & 265-day Commercial Paper Issuances (Series 5,6,7) under the N100 billion Programme.

Deal Description:

The N100 billion CP programme is the largest CP Programme to be established by a Nigerian Corporate. The issuance recorded impressive subscription from investors owing to our wide distribution capacity as well as good rating and notable brand portfolio of the Issuer.