Wednesday, May 19,
2021 / 11:25AM / by
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Image Credit: Nigerian Breweries
Corporate institutions continue to successfully tap the Nigerian debt capital markets (DCM) to access stable short, medium and long-term finance to fund key activities in their organisations. The commercial paper (CP) market has shown resilience by providing issuers with a sustained opportunity to grow their businesses, whilst contributing to the overall growth of the Nigerian economy.
In this regard, FMDQ Securities Exchange Limited ("FMDQ Exchange" or "the Exchange") is pleased to announce the approval for the quotation of the Nigerian Breweries PLC ("the issuer") N1.05 billion Series 12, N0.94 billion Series 13, and N2.67 billion Series 14 Commercial Papers (the "CPs") under its N100.00 billion Commercial Paper Issuance Programme on its platform. This brings the total CPs series issued by the issuer, since the renewal of its N100.00 billion CP Programme in 2019, to N156.20 billion, with a total of N14.76 billion currently active.
In a statement provided by the Finance Director, Nigerian Breweries PLC, Mr. Rob Kleinjan, he said, "Nigerian Breweries PLC is delighted to announce the quotation of series 12 - 14 CP issuances under its N100.00 billion CP Issuance Programme. We are pleased with the continuous opportunity to access alternative source of funding to meet our short-term working capital needs." Also, the co-sponsors to the issue and Registration Member (Quotations) on FMDQ Exchange - FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited and Stanbic IBTC Capital Limited, through the Head, Capital Markets, FBNQuest Merchant Bank Limited, Mr. Oluseun Olatidoye stated that "the co-sponsors are delighted about the quotation of Nigerian Breweries PLC series 12 - 14 CP issuance under the N100.00 billion programme. The funds raised will be utilised to meet the working capital needs of Nigerian Breweries PLC, and FBNQuest Merchant Bank is pleased with its role in further deepening the domestic debt markets".
The quotation of this and other CPs on the Exchange's platform validates its conscious drive to support the goals of corporate businesses and to deepen the Nigerian financial markets. FMDQ Exchange is committed to powering the growth of the Nigerian DCM by steadfastly availing its efficient and value-adding platform for the registration, listing, quotation and trading of securities.
FMDQ Group is Africa's first vertically integrated financial market infrastructure (FMI) group providing a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement and depository services, as well as data and information services across the debt capital, foreign exchange and derivatives markets in Nigeria, through its subsidiaries, FMDQ Exchange, FMDQ Clear Limited and FMDQ Depository Limited.