BELGIUM: Anheuser-Busch InBev to buy back debt
Anheuser-Busch InBev focussed on paying down debt
Anheuser-Busch InBev has said that it will redeem US$1.25bn of debt that had been due in 2014.
The Belgium-based, Budweiser brewer said late last week that it will redeeem $1.25bn-worth of notes on 20 June. It said that, in the second quarter of 2011, it expects to report $180m in one-off costs related to the move.
A-B InBev did not give a reason for its decision to buy back the debt. Following its full-year results announcement in February, group CEO Carlos Brito said that debt reduction would continue to be a key theme for the company in 2011.
A-B InBev's net debt to EBITDA ratio was 2.9 at the end of 2010 and the group wants a ratio of two by 2012.
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