UK/S AFRICA: SABMiller closes US$1.25bn bond issue

By just-drinks.com editorial team | 18 July 2008

SABMiller has completed its latest bond issue.

The brewer confirmed to both the London and Johannesburg Stock Exchanges yesterday (17 July) that the US$1.25bn bond issue has now closed.

The notes have been issued in two tranches, the first for $550m of 5.5-year notes with a coupon of 5.7%, with the second totalling $700m of 10-year notes with a coupon of 6.5%.

SABMiller did not detail what the funds would be used for.

Earlier this month, the brewer completed the transfer of the US importation rights for the Grolsch beer brand from Anheuser-Busch. SABMiller completed its acquisition of Royal Grolsch in February, and will now see the importation rights for the US switch to its US joint venture, Miller Coors.

Sectors: Beer & cider

Companies: SABMiller, Grolsch, Anheuser-Busch