Champion Breweries raises ₦30 billion via maiden bond at 19.50% coupon
Champion Breweries Plc successfully issued its maiden ₦30 billion 5-year Fixed Rate Senior Unsecured Bond at 19.50% coupon under its ₦45 billion Bond Issuance Programme. This is the first bond from any brewery in Nigeria, signaling Champion Breweries' ambition to diversify funding sources and strengthen its capital structure for sustainable growth. The issuance attracted robust demand from Pension Fund Administrators, Asset Managers, Trustees, a Bank, a Registrar, and High Net-Worth Individuals despite volatile interest rates, underscoring investor confidence in the company's credit quality and long-term strategy. Proceeds will enhance operational efficiency, modernize production infrastructure, and position Champion Breweries to compete at scale in Nigeria's beverage market. Chairman Imo-Abasi Jacob called it a "statement of intent" demonstrating governance strength and business model resilience, while MD/CEO Dr Inalegwu Adoga said the capital will drive operational efficiency and unlock growth opportunities under EnjoyCorp. Rand Merchant Bank acted as Lead Issuing House and Bookrunner, with RMB Nigeria CEO Bayo Ajayi noting the transaction demonstrates the depth and sophistication of Nigeria's debt capital markets and sets a strong precedent for future brewery sector issuances. With this move, Champion Breweries becomes the first player in the breweries sub-sector to tap the debt capital markets, potentially paving the way for competitors.