Nigerian Breweries Plc Up To N15bn Series 3 and 4 Commercial Paper Issue Now Open


Tuesday, June 25 2019  02:55 PM / Stanbic IBTC Stockbrokers / Header Image Credit:


FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited and Stanbic IBTC Capital Limited are pleased to inform you that the Nigerian Breweries PLC Series 3 & 4 Commercial Paper (“CP’) offer under its renewed N100 billion CP Programme is now open.


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


Nigerian Breweries PLC





91 days

172 days

Target Size:

Up to N15 billion

Discount Rate:



Implied Yield:



Offer Open Date:

Monday, 24 June 2019

Offer Close Date:

Friday, 28 June 2019

Settlement Date:

Monday, 01 July 2019

Maturity Date:

Monday, 30 September 2019

Friday, 20 December 2019

Issuer Rating:

Aa (Agusto); AA (GCR)

Minimum Subscription:

NGN5 million

Tax Consideration:

Free and clear of withholding taxes



Please find attached the following documents for your records/reference: 

  1. Valid ratings report by Agusto
  2. Valid ratings report by GCR
  3. Valid PenCom Compliance Certificate
  4. Series 3 and 4 Pricing Supplements
  5. Series 3 and 4 Commitment Forms

Proshare Nigeria Pvt. Ltd.

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