Nigerian Breweries Plc is seeking to raise up to N15bn in the first and second series of its N100bn commercial paper programme to support its short-term funding requirements.
The company is offering 11.59 per cent and 14.43 per cent yield on its 90- and 182-day commercial paper.
According to Afrinvest, the offer for the series 1 and 2 commercial papers, which opened on Thursday, will last for a week and close on Thursday, April 18, while the settlement date will be April 23.
The Series 1 commercial paper has a tenor of 90 days, an effective yield of 11.59 per cent and a discount rate of 11.268 per cent.
The Series 2 commercial paper has a tenor of 182 days, an effective yield of 14.43 per cent and a discount of 13.46 per cent.
The commercial papers, which were awarded Aa rating by Agusto & Co Limited and AA rating by Global Credit Ratings Co, have a minimum subscription amount of N5m and in multiples of N1,000 thereafter.