US: Molson Coors to repay EUR500m note on StarBev buy
Molson Coors bought StarBev last year
Molson Coors is set to repay a EUR500m (US$670m) bond issued to part-fund its purchase of StarBev last year.
In June 2012, the North American brewer acquired StarBev from CVC Capital Partners for around EUR2.65bn (US$3.54bn). StarBev advised Molson Coors earlier this week that it wants to exercise its right to put the EUR500m Zero-Coupon Senior Unsecured Convertible Bond, which is due this year.
“To satisfy its repayment obligations under the note,”, the brewer said, “Molson Coors intends to use one or more of the following sources: cash on hand, borrowings from existing credit facilities, and/or the proceeds from the issuance of unsecured commercial paper notes under its commercial paper programme, announced in March 2013.”
Earlier this month, Molson Coors credited StarBev with helping to drive half-year sales and profits.
Last week, MillerCoors unveiled the biggest brand launch in its five-and-a-half year history: Miller Fortune, a beer designed to take on the spirits market. But, how will this strategy play out, and w...
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
The 2012 acquisition of StarBev raised Molson Coors from ninth to seventh in the global beer market and significantly expanded its international coverage. This profile analyses the opportunities deriv...
Global Alcoholic Drinks industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The p...
Alcoholic Drinks in Canada industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). Th...
- Cuba-US Normalisation: Bacardi, Pernod Winners?
- Comment - The Appeal and Perils of Craft
- Review of the Year 2014 - Part IV: Spirits
- Sustainability in Wine - Part I
- Time is Right for Refresco Gerber Exit
- Belvédère to sell assets, streamline portfolio
- Belvedere vodka tie-up over new James Bond film
- Diageo ups focus on China with Mortlach roll-out
- Diageo rolls out Beckham's Haig Club to US
- Diageo welcomes verdict on Crown Royal "confusion"
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- The IWSR Forecast Report - 2014-2019 Global Review
- Global Tequila Market 2014-2018
- just-drinks on-trend: Craft beer - fortunes and future