Champion Breweries Plc has successfully redeemed its N4.21 billion Series 1 Commercial Paper Notes at maturity, issued under its N15 billion Commercial Paper Issuance Programme.
Okay News reports that the company announced the redemption in a statement on Wednesday, describing the Series 1 Commercial Paper as a cost-effective short-term financing tool that boosted liquidity and enhanced cash flow management.
The issuance achieved a 50 per cent oversubscription for both Series 1 and Series 2, reflecting 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 stated that the full and timely redemption demonstrates its disciplined financial management and prudent treasury practices.
The company noted that the successful repayment reinforces continued confidence among participants in the Nigerian debt capital markets in its operational resilience and liquidity management framework.
Managing Director of Champion Breweries Plc, Dr Inalegwu Adoga, commented that the redemption highlights 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 its focus on strengthening its financial position, maintaining robust stakeholder confidence, and executing its long-term growth strategy with discipline and transparency.
Champion Breweries added that the Commercial Paper Programme forms part of its broader capital markets strategy, providing flexible access to funding in line with prevailing market conditions.
