Nigerian Breweries to raise N20 billion through commercial paper

Nigerian Breweries Plc has launched a new phase of its N100 billion commercial paper programme, allowing the firm to raise N20 billion from investors.

The capital raise comes in three series of varying maturities: the first has a tenor of 91 days, the second 120 days and the third 154 days.

Typically unsecured, commercial papers provide corporations an opportunity to borrow from investors to meet short-term financial obligations at a fixed interest rate.

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