Nigerian Breweries (NB) has raised from institutional investors N17.7 billion ($88.98 million) in commercial paper with a yield of 12.5 percent to support short-tem funding requirements, it said on Tuesday.
The local unit of Dutch brewer Heineken set up an inaugural N100 billion commercial paper programme in October to diversify funding sources to include non-bank investors and complement its working capital funding.
The company is expected to use the funds to replace some of its current debt
