FMDQ Securities Exchange Limited, on Tuesday, admitted for quotation, Nigerian Breweries Plc ₦1.05 billion Series 12, ₦0.94 billion Series 13, and ₦2.67 billion Series 14 Commercial Papers under its ₦100bn Commercial Paper Issuance Programme on its platform.

This brings the total CPs series issued by the issuer, since the renewal of its ₦100bn CP Programme in 2019, to ₦156.2bn, of which a total of ₦14.76bn are currently active.

Commenting on the listing, Finance Director, NB Plc, Rob Kleinjan, expressed delight at the quotation of the series 12 – 14 CP issuances and the continuous opportunity to access alternative sources of funding to meet short-term working capital needs.

Speaking on behalf of the co-sponsors and Registration Member (Quotations) on FMDQ Exchange, FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited and Stanbic IBTC Capital Limited, the Head, Capital Markets, FBNQuest Merchant Bank Limited, Oluseun Olatidoye said “the co-sponsors are delighted about the quotation of Nigerian Breweries PLC series 12 – 14 CP issuance under the ₦100bn programme.”

The funds raised, he stressed, will be utilised to meet the working capital needs of Nigerian Breweries PLC, and FBNQuest Merchant Bank is pleased with its role in further deepening the domestic debt markets”.

Also commenting, the management of FMDQ said “the quotation of this and other CPs on the Exchange’s platform validates its conscious drive to support the goals of corporate businesses and to deepen the Nigerian financial markets. FMDQ Exchange is committed to powering the growth of the Nigerian DCM by steadfastly availing its efficient and value-adding platform for the registration, listing, quotation and trading of securities.”