Champion Breweries redeems N4.21bn Series 1 Commercial Paper, reflecting strong investor confidence and disciplined treasury management

Champion Breweries Plc has announced the successful redemption of its N4.21 billion Series 1 Commercial Paper Notes at maturity, issued under its N15 billion Commercial Paper Issuance Programme.

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The company said in a statement on Wednesday that the Series 1 Commercial Paper provided cost-effective short-term financing, boosting liquidity and enhancing cash flow management.

The 50 per cent oversubscription of Series 1 and Series 2 Commercial Paper demonstrated strong investor confidence in Champion Breweries’ credit profile and its ability to deliver sustainable value to stakeholders.

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 said that the full and timely redemption reflects disciplined financial management and prudent treasury practices.

Managing Director Dr Inalegwu Adoga stated that the redemption underscores 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,” he said.

The company noted that the Commercial Paper Programme forms part of its broader capital markets strategy, providing flexible access to funding in line with prevailing market conditions.

The successful repayment also reinforces investor confidence in Nigeria’s debt capital markets and in Champion Breweries’ operational resilience.

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Champion Breweries reiterated its focus on strengthening its financial position, maintaining stakeholder confidence, and executing its long-term growth strategy with discipline and transparency.