SABMiller prices $7bn bond issue
LIQUOR NEWS
IOL Business - Jan 12th, 09:48
Brewing giant SABMiller (SAB) subsidiary SABMiller Holdings Inc. has successfully priced a US$7 billion bond issue.
The notes will be guaranteed by the company and will be issued in four tranches:
US$1 billion of 2015 year notes with a coupon of 1.850%
US$2 billion of 2017 year notes with a coupon of 2.450%
US$2.5 billion of 2022 year notes with a coupon of 3.750%
US$1.5 billion of 2042 year notes with a coupon of 4.950%
The net proceeds will be used to repay in part its bank borrowings incurred to finance the acquisition of Foster's Group in December 2011, SABMiller said on Wednesday.
Commenting on the issue, Jamie Wilson, Chief Financial Officer of SABMiller said: “We were very pleased by the high level of demand from bond investors in response to this offering, and the pricing achieved, which we believe is a reflection of the strengths of the SABMiller Group and our attractive profile of brands and businesses.” - I-Net Bridge
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