Champion Breweries completes redemption of N4.21bn commercial paper
Champion Breweries Plc has announced the successful redemption of its N4.21bn Series 1 Commercial Paper Notes. The company highlighted that the notes provided cost-effective short-term financing and improved its cash flow management. Dr Inalegwu Adoga, Managing Director, emphasized the company's commitment to financial discipline and transparency. The firm reiterated its focus on strengthening its financial position and maintaining stakeholder confidence.
TLDR
- Champion Breweries Plc redeemed its N4.21bn Series 1 Commercial Paper Notes at maturity.
- The Series 1 Commercial Paper had a tenor of 176 days and was issued at a 21.1081% discount rate.
- The Series 1 and Series 2 Commercial Papers were 50% oversubscribed, showing strong investor confidence.
- Dr Inalegwu Adoga stated that the redemption demonstrates the company’s financial discipline and transparency.
- The Commercial Paper Programme is part of Champion Breweries’ broader capital markets strategy for flexible funding.
