SINGAPORE: Asia Pacific Breweries issues notes to pay debt
Asia Pacific Breweries has issued SGD40m of notes, as part of its plan to pay off loans used to acquire controlling stakes in two Heineken businesses.
Asia Pacific Breweries (APB) said yesterday (3 March) that it has issued SGD40m (US$28.6m) in fixed rate notes, within its SGD1bn multicurrency, medium-term note programme launched in April last year.
It said that net proceeds will be used to help pay down short-term loans related to the brewer's acquisition of Heineken's controlling stakes in Multi Bintang of Indonesia and Grand Brasseries de Nouvelle Caledonie.
APB, brewer of Tiger beer, is jointly owned by Heineken and Fraser & Neave.
After Heineken secured a 37.5% stake in India's United Breweries late last year, it agreed to acquire all of APB's India assets, including APB Aurangabad and APB Pearl, for EUR25m (US$37m).
In return, APB agreed to acquire Heineken's 68.5% interest in Indonesian-based Multi Bintang Indonesia and Heineken's 87.3% interest in Grande Brasserie de Nouvelle Caledonie in New Caledonia for undisclosed fees.
For more on the deal, click here.
Is beer good for you? The health benefits and drawbacks of beer have long been studied and debated. But is beer good for your country? Most definitely, conclude Larry Nelson and Frank Zappa....
- Why Chinese beverages won't conquer the world
- Is “Craft” the Next Big Thing for Soft Drinks?
- Can Coca-Cola fuel SABMiller's soft drinks story?
- Petropolis Finally Moving into SABMiller's View?
- Gin: Plymouth's from Plymouth, London's from...?
- Diageo confirms Australia RTD abv drops
- Pernod launches online Ballantine's "experiment"
- Global vodka sales slip in 2013 - research
- SABMiller returns to Brazil with Petropolis tie-up
- Smirnoff tops UK shopping list - figures
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global vodka insights - market forecasts, product innovation and consumer trends research
- The IWSR Forecast Report - 2014-2019 Global Review
- Global Tequila Market 2014-2018