MAY 2015 NEWS Aluko & Oyebode
Aluko & Oyebode acted as Transaction Counsel on the inaugural N10 Billion Commercial Paper Programme established by Guinness Nigeria Plc, a subsidiary of Diageo Plc. This landmark transaction is innovative as it represents the first corporate commercial paper programme to be established by a non-financial institution following the Guidelines on Commercial Paper published by the Central Bank of Nigeria in 2009.
The transaction is unique in that it is the first time the company is establishing a commercial paper programme for the purpose of raising capital to amplify its production capacity. Another unique feature of the transaction is that it provides the investing public with an alternative means of investing in the company.