SABMiller plans to sell US$7bn-worth of debt in order to help fund its acquisition of Foster's Group. 

SABMiller said today that it has priced a $7bn bond issue in the US. It will be split into four tranches, with $1bn to mature in 2015, another $2bn in 2017, $2.5bn in 2022 and $1.5bn in 2042. 

Proceeds from the bond issue will be used to repay a bank loan taken out to acquire Australia's largest brewer, Foster's Group. In December, SABMiller bought Foster's for AUD11.5bn including debt. 

SABMiller's CFO, Jamie Wilson, said: "We were very pleased by the high level of demand from bond investors in response to this offering, and the pricing achieved, which we believe is a reflection of the strengths of the SABMiller Group and our attractive profile of brands and businesses." The bond issue will be overseen by SABMiller's wholly-owned subsidiary, SABMiller Holdings.