Company launches 100 billion naira funding programme

Nigerian Breweries (NB) has set up a 100 billion naira ($502 million) commercial paper programme to diversify its funding sources to include non-bank investors, and complement its working capital funding, the brewer said on Wednesday.

The local unit of Dutch brewer Heineken said the inaugural note issue, which will be traded over the counter, will be launched by Oct. 8, the company said in a filing with the Nigerian Stock Exchange.

($1 = 199.00 naira)