World: AB InBev staging one of the biggest bond sales of 2019
Anheuser-Busch (AB) InBev is staging one of the biggest bond sales of the new year to refinance some of its $100 billion (R1.4 trillion) debt load, according to a report by Bloomberg.
The financial, data, and media company reported on January 10 that the brewer was planning to sell senior unsecured bonds in six parts, citing a source with knowledge of the matter.
The sale comes in tandem with a tender offer for up to $11 billion of notes in 12 series, according to a statement on January 10. The longest portion of the offering, a 40-year security, may yield 2.9 percentage points more than the US, according to the report.
AB InBev made headlines in 2016 when it took over SABMiller for $100 bln to form a behemoth that would sell more than a quarter of all beers sold worldwide and be the fifth largest consumer goods company.
The deal was overwhelmingly backed by SABMiller shareholders.
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