- 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