Guinness Says to List N10 Billion Series 2 and 3 Commercial Paper Issues on FMDQ OTC Feb’18


By InvestAdvocate

Lagos (INVESTADVOCATE)-The nation’s top brewer, Guinness Nigeria Plc said on Thursday it will list N10 billion series II and III commercial paper issues on the FMDQ OTC securities exchange February 18, 2016.

Guinness in an announcement with the Nigerian Stock Exchange (NSE) said the planned listing follows the successful issuance of the 182day series II and 268day series III issues on November 4, 2016 which comprises of N7.23 billion series II N2.77 billion series III commercial papers respectively.

The beer producer disclosed that Standard Chartered Bank acted as issuing, calculating and paying agent on the commercial paper issuance, while Stanbic IBTC Capital Limited and Standard Chartered & Advisory Nigerian Limited acted as joint arrangers.

“Guinness Nigerian took this milestone initiative as the first non-financial institution to establish a CP program following the guidelines on commercial paper published by the Central Bank of Nigeria in 2009,” the company said.

According to the brewer, its decision to list the notes on the FMDQ is to increase visibility which will in turn lead to increased demand for future issues.

Shares of Guinness Nigeria at the close of today’s trading on the domestic bourse declined 0.25 percent to N19.50 per share from N19.60 per share traded the previous session.

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