Guinness Nigeria Plc, the nation’s leading brewer, has today
announced that it will be establishing a 10 Billion Commercial Paper (“CP”)
programme today, 29th April 2015, with the view to launching its inaugural CP
issue under the programme on or before Friday, 8th May 2015. The announcement
was made at the signing ceremony which held at the company’s headquarters in
Ikeja, Lagos.
Speaking at the signing ceremony, Mr. John O’Keeffe, the
Managing Director/CEO of Guinness Nigeria, commented:
| L-R: Finance and Strategy Director, Guinness Nigeria Plc. Mr. Ron Plumridge; Head, Debt Capital Markets, FMDQ OCT Plc. Mr. Kobi Bentsi-Enchill; MD/CEO Guinness Nigeria Plc. John O’Keeffe; and, Executive Director, Corporate and Institutional Clients, Standard Chartered Bank Oluremi Oyindasola Oni at the N10billion Commercial Paper signing ceremony held at Guinness Nigeria Headquarters on Wednesday, April 29, 2015. |
“We are very pleased
with the successful launch of this Commercial Paper programme for Guinness
Nigeria Plc and the support received from our advisors to get us to this point.
This will be the first corporate CP programme to be established in recent
times, following the new CBN guidelines coming into effect, and we are pleased
to be the first company to take advantage of this opportunity. We look forward
to a robust uptake of this inaugural issuance imminently, whilst retaining the
flexibility offered by the programme to tap into the CP market again in the
nearest future.”
Witnessing the signing
ceremony were representatives of the transaction advisors which include
Stanbic-IBTC Capital Limited and Standard Chartered Securities Nigeria Limited
as Joint Arrangers, Aluko & Oyebode as Legal Counsel, KPMG as Auditors to
the Issuer, and Standard Chartered Bank Nigeria Limited as Issuing Calculation
and Paying Agent. Also in attendance were officials of FMDQ OTC, a Securities
and Exchange Commission licensed over-the-counter market operator for fixed
income securities.
Also speaking at the
event, Kobby Bentsi-Enchill, Head - Debt Capital Markets, of Stanbic IBTC
Capital stated that Guinness Nigeria has shown industry leadership in taking up
the CP. He declared:
“This transaction is a unique milestone event, and represents
the first CP Programme to be established by a non-financial institution corporate
issuer following the new guidelines on commercial paper from the Central Bank
of Nigeria, published in 2009. In that regard, Guinness Nigeria has again
clearly demonstrated its innovative approach towards executing the company’s
financing strategy, in an increasingly competitive market environment. We at
Stanbic IBTC are also proud to have partnered with Guinness on this landmark
achievement”
Guinness Nigeria is a
part of Diageo, a global leader in beverage alcohol with an outstanding
collection of brands across beer, spirits and wine categories. These brands include Johnnie Walker, Don
Julio, Tanqueray and Guinness. Guinness Nigeria is the manufacturer of
recognised brands like Malta Guinness, Harp, Snapp and Orijin.
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