Standard Chartered Bank Nigeria Limited and Standard Chartered
Securities Nigeria Limited acted as both issuing, calculation and paying
agent and as joint lead arranger, respectively, on the N10 billion
Domestic Commercial Paper Issuance Programmer for Guinness Nigeria. This
was announced at a formal signing ceremony held in Logos.
Attendees at the signing ceremony included representatives of the
FMDQ OTC, a Securities and Exchange Commission licensed over-the-counter
market operator for fixed income securities.
The N10 billion Commercial Paper Programmer represents the first CP
Programmer 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 clearly demonstrates its innovative approach
towards executing the company’s financing strategy in an increasingly
dynamic market environment.
Commenting on the transaction, Bola Adesola, CEO, Standard Chartered Bank Nigeria Limited, said:
“Standard Chartered is proud to have played a leading role in
supporting this ground-breaking Commercial Paper Programmer for Guinness
Nigeria ply.
This first of its kind transaction, following the new CBN guidelines,
creates a template for other similar transactions. We believe this is
the beginning of many more opportunities to support institutional growth
for our clients and the continuous development of the economy at large.
This is clearly in line with our commitment to be ‘here for good.’”
Stanbic-IBTC Capital Limited served as joint arrangers, Aluko &
Oyebode acted as legal counsel while KPMG acted as auditors to the
issuers.
Guinness Nigeria is a part of Diego, a global leader in beverage
alcohol, with an outstanding collection of brands across beer, spirits
and wine categories, according to the statement.
Modestus Anaesoronye
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