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US: Anheuser-Busch InBev completes US$3bn note pricing

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Anheuser-Busch InBev has completed a US$3bn note pricing.

The global brewer, which has been raising funds throughout this year to help pay off a loan to acquire Anheuser-Busch last last year, said yesterday (14 May) that the $3bn pricing is made up of $1.55bn aggregate principal amount of notes due 2014, $1bn aggregate principal amount of notes due 2019 and $450m aggregate principal amount of notes due 2039.

The notes will bear interest at an annual rate of 5.375% for the five-year notes, 6.875% for the ten-year notes and 8% for the 30-year notes and will mature on 15 November, 2014, 2019 and 2039, respectively.

The net proceeds from the sale of the notes will be used to repay short term debt and to repay a portion of the outstanding indebtedness incurred for the purpose of financing the A-B acquisition, the company said.

"We are pleased to have successfully completed an additional capital market transaction, having now raised US$11.5bn in 2009," said Felipe Dutra, A-B InBev's CFO. "The proceeds from this transaction allow us to further term out our debt maturity profile and, in line with our commitment, substantially reduce debt maturing prior to November 2010."

Earlier this month, A-B InBev sold its South Korean unit, Oriental Brewery, to private equity group Kohlberg Kravis Roberts & Co for $1.8bn.


Sectors: Beer & cider

Companies: Anheuser-Busch InBev

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