Rand Merchant Bank is acting as lead issuing house and bookrunner on Champion Breweries Plc’s landmark N30bn five-year bond issuance under the N45bn Bond Issuance Programme, according to a statement on Monday.
In the statement, Champion Breweries Plc announced the successful issuance of its maiden N30bn five-year fixed-rate senior unsecured bond at a coupon of 19.50 per cent, under its N45bn Bond Issuance Programme.
“This landmark transaction marks a significant milestone as Champion Breweries continues to expand its footprint and strengthen its position in Nigeria’s beverage industry.
“The Bond Issuance is the first bond issued by a player in the breweries sub-sector in Nigeria, signalling the company’s ambition to diversify its funding sources, strengthen its capital structure, and position Champion Breweries for sustainable growth in a competitive market,” it stated.
It noted that despite launching the Bond Issuance amid a volatile interest rate environment, the transaction attracted robust demand from a diverse set of institutional investors, including Pension Fund Administrators, asset managers, trustees, a bank, a registrar, and high-net-worth individuals, underscoring strong confidence in Champion Breweries’ credit quality and long-term growth strategy under its management team and board of directors.
It said the bond proceeds will be strategically allocated to enhance operational efficiency, enabling Champion Breweries to sustain growth and deliver long-term value to stakeholders.
Commenting on the Bond Issuance, Chairman of Champion Breweries Plc, Mr Imo-Abasi Jacob, said, “The successful Bond Issuance is more than a financing milestone; it is a statement of intent. By accessing the debt capital markets, we have demonstrated the strength of our governance, the resilience of our business model, and the confidence investors place in our long-term vision.”
He added, “This Bond Issuance is a catalyst for transformation, enabling Champion Breweries to modernise its production infrastructure, strengthen its capital base, and position the company to compete at scale. We are proud to set a precedent in the breweries sub-sector, and we remain committed to leveraging this momentum to drive innovation, efficiency, and stakeholder prosperity.”
Managing Director and Chief Executive Officer of Champion Breweries Plc, Dr Inalegwu Adoga, commented, “This successful Bond Issuance reflects investor confidence in Champion Breweries and our strategic direction under EnjoyCorp. With this capital, we are focused on driving operational efficiency and unlocking opportunities that will sustain growth and reinforce our leadership in Nigeria’s beverage market.”
On his part, the Executive Director, Rand Merchant Bank Nigeria Limited, and Head of Investment Banking, Broader Africa, Chidi Iwuchukwu, said, “Champion Breweries Plc’s maiden Bond Issuance is a significant milestone for the breweries sub-sector and reflects the increasing depth of Nigeria’s debt capital markets.
“Rand Merchant Bank is proud to have partnered with Champion Breweries Plc as Lead Issuing House and Bookrunner, leveraging our expertise in credit ratings advisory, transaction structuring, debt advisory, as well as investor and regulatory engagements to deliver seamless execution.
“This success reinforces our commitment to delivering holistic solutions that help clients achieve strategic objectives and set new benchmarks. We appreciate Champion Breweries Plc’s confidence in RMB Nigeria throughout this journey.”
Chief Executive Officer of RMB Nigeria, Bayo Ajayi, added, “We are proud to have led and advised Champion Breweries through the process of accessing long-term funding from the debt capital markets. This transaction demonstrates the depth and sophistication of Nigeria’s debt capital markets.
“At RMB Nigeria, we remain committed to structuring solutions that meet our clients’ funding needs while contributing to the development of Nigeria’s capital markets. Champion Breweries’ successful issuance sets a strong precedent for future bond issuances from players in the breweries sub-sector.”
