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Home Business News

Nigerian Breweries raises N17.7 bln in commercial paper

Editor by Editor
November 6, 2015
in Business News
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  • 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

 

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Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

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