E-Malt.com News article: World: SABMiller prices $1.1 bln bond issue

SABMiller Plc said on August 6 its wholly owned subsidiary, SABMiller Holdings Inc., successfully priced a $1.1 billion bond issue.

The notes would be guaranteed by the company and would be issued in two tranches:

- $750 million of 5-year, fixed-rate notes with a coupon of 2.20%

- $350 million of 5-year, floating-rate notes with a coupon of 0.69% over 3-month LIBOR.

"The net proceeds will be used by the Issuer to repay the remaining outstanding bank borrowings incurred to finance the acquisition of Foster's Group Limited in December 2011, and the balance for general corporate purposes," the company said.


09 August, 2013