Bonds & Fixed Income | |
Bonds & Fixed Income | |
1328 VIEWS | |
![]() |
Tuesday,
April 07, 2020 / 10:40 AM / By Stanbic IBTC Stockbrokers /
Header Image Credit: Nigerian Breweries
We are
pleased to inform you that the Nigerian Breweries
PLC Issue of up to NGN30 Billion Series 7 and Series 8 Commercial Paper ("Nigerian
Breweries") from the company's NGN100 billion Commercial Paper Programme is now
open and scheduled to close on Tuesday, 14 April 2020 with funding to occur on
Wednesday 15 April 2020.
Nigerian
Breweries is the pioneer and largest Brewing Company in Nigeria with
twenty six (26) distinct brands and is geared towards sustaining its leadership
position through a strong distribution strategy for its brand. The Company was
incorporated in 1946 and began the production of its STAR Lager beer product in
June 1946.
The Company's strategy is based on two major areas.
The first is to accelerate its premium growth and this is led by the Heineken
and Tiger brands. The second is to protect the core businesses like the lager
brands and stout, as well as to drive malt profitability.
In the coming years, Nigerian Breweries aims to
leverage its position as one of the dominant market leaders in the Consumer
Goods space in Nigeria, building on its first-mover advantage through product
innovation and excellent customer experience.
Please see below the terms of the offer:
Issuer: |
Nigerian
Breweries PLC |
|||
Arranger & Dealer: |
Stanbic IBTC
Capital Limited , FBNQuest Merchant Bank Limited and FCMB Capital
Markets Limited |
|||
Series: |
Series 7 |
Series 8 |
||
Tenor: |
182 days |
268 days |
||
Target Size: |
Up to NGN15 billion |
Up to NGN15 billion |
||
Discount Rate: |
5.8262% |
6.5393% |
||
Implied Yield: |
6.0000% |
7.0000% |
||
Offer Open Date: |
Monday, 06 April 2020 |
|||
Offer Close Date: |
Tuesday, 14 April 2020 |
|||
Settlement Date: |
Wednesday, 15 April 2020 |
|||
Maturity Date: |
Wednesday, 14 October 2020 |
Friday, 8 January 2021 |
||
Issuer Rating: |
Aa-
(Agusto); A1+ (GCR) |
|||
Minimum Subscription: |
NGN5 million |
|||
|
|
|||
Also please find attached the following documents for your information and use:
1.
Pricing
Supplements - Series
7 and
8
2.
Commitment Forms - Series
7 and
8
4.
Valid PenCom
compliance certificate
Related News
Related News - NB