Monday, June 15, 2020 / 07:43 PM / By Stanbic IBTC / Header
Image Credit: African Financials
Stanbic IBTC Capital Limited and Standard Chartered Capital and Advisory Nigeria Limited and are delighted to inform you of the upcoming series 1 and 2 commercial paper issuance (the "Offer") under Guinness Nigeria Plc's ("Guinness Nigeria", the "Company" or the "Issuer") N10 billion commercial programme issuance programme.
Guinness Nigeria began operations in 1963 when the Company opened its first plant in Lagos, which also represented the first Guinness brewery outside of Ireland and Great Britain. Since then, the Company has expanded operations with breweries strategically located in Benin and Lagos States to enable efficient delivery across Nigeria. Guinness' breweries are amongst the most modern and technologically driven breweries in Africa.
While Guinness Nigeria primarily engages in brewing, packaging, marketing and selling spirits, beers, ready-to-drink products and non-alcoholic drinks in Nigeria, it also engages in exports of its products to other countries. The Company's portfolio includes iconic brands and market leaders such as the flagship brands - Guinness Foreign Extra Stout, Malta Guinness Classic, Harp Lager Beer, Smirnoff Ice, Smirnoff Vodka, Dubic Malt, Orijin Bitters, Orijin Zero, Satzenbrau, Mr Dowell, Johnnie Walker, Singleton, Ciroc, Baileys and Baileys Delight.
Guinness Nigeria is a subsidiary of Diageo, a global leader in beverage alcohol with an outstanding collection of brands across spirits, beer and wine categories which are sold in over 180 countries around the world.
The funds raised by the Company will be used to fund short term working capital requirements as well as for general corporate purposes. The Issuer has been assigned an A+ and A1 long-term and short term rating respectively (stable) by Global Credit Rating Co., reflecting the Company's market leading position within the brewery industry in Nigeria, with a well-diversified products portfolio of brands targeting different pricing points. In addition, the Company benefits from a favourable cash conversion cycle that facilitates strong cash generation and liquidity.
For more information, please refer to the summary of the Offer below and the following documents, which have been attached to this email: