Champion Breweries Redeems N4.21bn Series 1 Commercial Paper Upon Maturity

Kayode Tokede

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

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

“The 50 per cent oversubscription of the Series 1 and 2 Commercial Paper demonstrate strong investor confidence in Champion Breweries’ credit profile and ability to deliver sustainable stakeholder value. The Series 1 Commercial Paper had a tenor of 176 days at a discount rate of 21.1081 per cent.

“The full and timely redemption of the Series 1 Commercial Paper reflects Champion Breweries’ disciplined financial management and prudent treasury practices, while reinforcing continued confidence by participants in the Nigerian debt capital markets in the Company’s operational resilience and liquidity management framework,” it said.

Commenting on the redemption, Managing Director of Champion Breweries Plc, Dr. Inalegwu Adoga, said: “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. Champion Breweries remains focused on strengthening its financial position, maintaining robust stakeholder confidence, and executing its long-term growth strategy with discipline and transparency.”