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Champion Breweries raises ₦30bin landmark debut bond issue

Champion Breweries Plc has completed its debut bond offering, raising ₦30 billion through a 5-year fixed-rate senior unsecured bond priced at 19.50%. This landmark transaction, executed under the company’s ₦45 billion Bond Issuance Programme, marks the first time a player in Nigeria’s breweries sub-sector has tapped the corporate bond market.

The issuance comes amid a challenging interest rate environment but drew strong demand from a broad investor base, including Pension Fund Administrators, asset managers, trustees, banks, registrars, and high-net-worth individuals. The robust subscription reflects deep market confidence in Champion Breweries’ creditworthiness, resilient business model, and long-term growth prospects under its current leadership and board.

Proceeds from the bond will be deployed to boost operational efficiency, modernize production infrastructure, fortify the company’s capital base, and support sustainable expansion in Nigeria’s competitive beverage industry. The move is expected to enhance Champion Breweries’ ability to deliver consistent value to stakeholders while reinforcing its market position.

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Mr. Imo-Abasi Jacob, Chairman of Champion Breweries Plc, described the achievement as “more than a financing milestone—it is a statement of intent.” He emphasized that accessing the debt capital markets underscores the strength of the company’s governance, the durability of its operations, and the trust investors have in its vision.

Dr. Inalegwu Adoga, Managing Director/CEO, highlighted investor faith in the company’s strategic direction, particularly since its alignment with EnjoyCorp. “With this capital, we are focused on driving operational efficiency and unlocking opportunities that will sustain growth and reinforce our leadership in Nigeria’s beverage market,” he stated.

Rand Merchant Bank (RMB) Nigeria served as Lead Issuing House and Bookrunner, providing advisory on credit ratings, transaction structuring, debt strategy, and investor/regulatory engagements. Bayo Ajayi, CEO of RMB Nigeria, praised the deal as evidence of the growing sophistication of Nigeria’s debt capital markets. “This transaction demonstrates the depth and maturity of the market and sets a strong precedent for future bond issuances from players in the breweries sub-sector,” he noted.

Chidi Iwuchukwu, Executive Director and Head of Investment Banking Broader Africa at RMB Nigeria, added that the successful execution reinforces the bank’s commitment to delivering comprehensive solutions that help clients meet strategic goals and establish new industry benchmarks.

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