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Anheuser-Busch InBev issues EUR13.3bn in notes

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Anheuser-Busch InBev will issue EUR13.25bn (US$14.7bn) worth of notes as it looks to fund the purchase of SABMiller.

Part of the proceeds from AB InBevs notes sale will fund its purchase of SABMiller

Part of the proceeds from AB InBev's notes sale will fund its purchase of SABMiller

The company said late yesterday that the proceeds from the sale would be used for the "realisation of the strategy of Anheuser-Busch InBev", which includes the acquisition of SAB, as well as for "general corporate purposes". The notes will be issued on 29 March. 

Last November, AB InBev agreed to buy SABMiller in a deal worth GBP71bn (US$107.3bn).  According to Nomura analyst Edward Mundy, financing for the SABMiller deal is now "complete".

 "Although it is hard to identify positive catalysts until the deal completes, ABI remains our top pick in beer," he said in a note following the announcement.  

Media reports have suggested the EUR13.25bn notes issuance is the largest-ever in the Euro denomination. 

Earlier this month, AB InBev agreed to sell SABMiller's 49% interest in China Resources Snow Breweries to China Resources Beer in a bid to address potential regulatory clashes in the country. The global brewer had already agreed the sale of Grolsch, Meantime and Peroni, to Asahi.


Sectors: Beer & cider

Companies: Anheuser-Busch InBev

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