Champion Breweries Plc has announced the successful redemption of its N4.21bn Series 1 Commercial Paper Notes at maturity, issued under its N15bn Commercial Paper Issuance Programme.
The company said in a statement on Wednesday that the Series 1 Commercial Paper provided cost-effective short-term financing, which boosted its liquidity and enhanced cash flow management.
It added that the 50 per cent oversubscription of its Series 1 and Series 2 Commercial Paper demonstrated strong investor confidence in Champion Breweries’ credit profile and its capacity to deliver sustainable value to stakeholders.
According to the company, the Series 1 Commercial Paper had a tenor of 176 days and was issued at a discount rate of 21.1081 per cent.
Champion Breweries stated that the full and timely redemption of the Series 1 Commercial Paper reflects its disciplined financial management and prudent treasury practices.
It noted that the development also reinforces continued confidence by participants in the Nigerian debt capital markets in the company’s operational resilience and liquidity management framework.
Commenting on the redemption, the Managing Director of Champion Breweries Plc, Dr Inalegwu Adoga, said the successful repayment underscored the company’s commitment to financial discipline and transparency.
“This successful redemption highlights our commitment to financial discipline and transparency. It is a testament to the trust our investors place in us and strengthens our ability to execute our long-term growth strategy while delivering value to all stakeholders,” Adoga said.
The company reiterated that it remains focused on strengthening its financial position, maintaining robust stakeholder confidence, and executing its long-term growth strategy with discipline and transparency.
It added that the Commercial Paper Programme forms part of its broader capital markets strategy and provides flexible access to funding in line with prevailing market conditions.
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