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| MD/CEO Guinness Nigeria Plc. John O’Keeffe, , MD/CEO FMDQ OTC Plc. Bola Onadele; Finance and Strategy Director, Guinness Nigeria Plc. Mr. Ron Plumridge; and, Sumbo Akintola, Partner, Aluko and Oyebode at the N10billion Commercial Paper signing ceremony held at Guinness Nigeria Headquarters |
Guinness Nigeria Plc, the
nation’s leading brewer, has today announced that it will be establishing a 10
Billion Commercial Paper (CP) programme 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 recently.
Speaking at the signing ceremony, Mr. John
O’Keeffe, the Managing Director/CEO of Guinness Nigeria, commented: “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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