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Anheuser-Busch to accept tenders for 1.06 billion of three series
By Sarah Lizee
Olympia, Wash., Sept. 15 Anheuser-Busch InBev SA/NV said it received tenders for a total of 1,064,484,000 of notes in its cash any-and-all tender offers for the 1.5 billion floating-rate notes due 2024 (ISIN: BE6301509012), the 750 million 2.875% notes due 2024 (ISIN: BE6243179650) and the 2.5 billion 1.5% notes due 2025 (ISIN: BE6285454482), according to an announcement.
By the expiration time, 5 p.m. ET Sept. 14, 517,089,000 of the floating-rate notes, 194,612,000 of the 2024 notes and 352,783,000 of the 2025 notes were tendered under the offers.
The company said it intends to accept all tendered notes for purchase.
As previously reported, the purchase price for the floating-rate notes is 1,007.50 per 1,000 of notes.
Pricing for the 2.875% notes was set using the September 2024 interpolated swap rate plus 20 basis points, for a tender consideration of 1,126.35 per 1,000 of notes.
Pricing for the 1.5% notes was set using the March 2025 interpolated swap rate plus 22 bps, for a tender consideration of 1,077.57 per 1,000 of notes.
Holders will also receive accrued interest.
The offers are being made in order to reduce Anheuser-Buschs gross debt.
Barclays Bank plc (212 528-7581, 800 438-3242, +44 20 3134-8515; us.lm@barclays.com), BofA Securities (704 560-7937, +44 20 7996-5420; debt_advisory@bofa.com), Deutsche Bank Securities Inc. (212 250-2955, 866 627-0391), J.P. Morgan Securities plc (+44 20 7134-2468; liability_management_EMEA@jpmorgan.com) and Santander Investment Securities Inc. (212 940-1442, 855 404-3636, +44 20 7756-6909) are the dealer managers.
The tender agent is Lucid Issuer Services Ltd. (+ 44 20 7704 0880; ab-inbev@lucid-is.com).
The beer brewer is based in Leuven, Belgium.
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