Nigerian Breweries Plc on Tuesday announced the continuation of its N15bn Commercial Paper Programme with the launch of Series 3 and 4 of the programme which opened on the 24th of June, 2019.

The company noted that while Series 3 would be for a tenor of 91 days, Series 4 would be for 172 days, and the aim is to raise up to N15 billion to support the Company’s short terms funding needs.

Earlier this year, the Company had successfully concluded the Series 1 and 2 of its renewed N100 billion CP programme.

The brewing giant said in addition to providing an opportunity for non-equity investors to invest in the Company, the CP programme continues to support the Company’s cost management initiatives with the overall aim of reducing its cost of fund. The CP also serves as an additional source of funding for the Company.