Nigerian Breweries Plc Series 9, 10 and 11 Commercial Paper Now Open

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Tuesday, October 27, 2020 / 12:13 PM / by Arthur Stevens Asset Management / Header Image Credit: The Guardian Nigeria 


We are pleased to inform you that the Nigerian Breweries PLC Issue of up to NGN20 Billion Series 9, 10 and 11 Commercial Papers ("Nigerian Breweries") from the company's NGN100 billion commercial paper programme is now open and scheduled to close on Friday, 30 October 2020 with funding date the next business day Monday 2 November 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 nature of its business include Brewing and Marketing of Lager Beer, Stout as well as Non-Alcoholic beverages.


The Company's strategy remains focused on two major areas. The first is to accelerate its premium growth led by the Heineken and Tiger brands and the second is to protect the core businesses like the lager brands and stout, while driving malt profitability.


Please see below a summary of the indicative terms of the offer. 

Issuer:

Nigerian Breweries PLC

Series:

 

Series 9

Series 10

Series 11

Tenor:

 

120 days

183 days

240 days

Target Size:

Up to NGN20 billion

Discount Rate:

 

2.77%

2.96%

3.13%

Implied Yield:

 

2.80%

3.00%

3.20%

Offer Open Date:

Monday, 26 October 2020

 

Offer Close Date:

Friday, 30 October 2020

 

Settlement Date:

Monday, 2 November

 

Issue Date

Monday, 2 November 2020

 

 

Maturity Date:

Tuesday, 2 March 2021

Tuesday, 4 May 2021

Wednesday, 30 June 2021

Issuer Rating:

Aa- (Agusto); A1+ (GCR)

 

 

The under-listed documents are forwarded herewith:           

1.      The Pricing Supplement (Series 9, Series 10, Series 11)

2.     The Commitment Forms (Series 9, Series 10, Series 11)

3.     The Issuer's rating by Agusto and GCR

4.     The Issuer's 2020 PenCom Compliance Certificate


We look forward to your participation in the Nigerian Breweries Plc series 9, 10 and 11 Commercial Paper

 For further information; kindly send a request via info@arthursteven.com

 

Proshare Nigeria Pvt. Ltd.


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