Heineken has completed the placing of EUR1bn (US$1.35bn) worth of five-year notes.

The brewer confirmed yesterday (25 March) that the notes have a coupon of 7 1/8%.

Proceeds from the offering will be used to partially refinance bank loans and for general corporate purposes.

The unrated notes, which were placed by Barclays, BNP Paribas, Citi, Credit Suisse and ING, were issued under the company's European Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange.

Earlier this week, Heineken confirmed that two of its three Czech brewers, Krusovice and Starobrno, are to merge on 1 June.