By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., March 20 – Anheuser-Busch InBev Worldwide Inc. priced $1 billion of 5% notes due 2034 (A3/A-) on Tuesday, according to a market source and an FWP filed with the Securities and Exchange Commission.
The notes sold at 99.596 to yield 5.052%, or at Treasuries plus 75 basis points, after talk in the Treasuries plus 100 bps to 105 bps area.
The securities have a make-whole call at Treasuries plus 15 bps until March 15, 2034 when they will transition to a par call for the last three months. Upon a change in tax laws, the notes would be fully redeemable at par.
The notes are guaranteed by Anheuser-Busch Cos., LLC, Anheuser-Busch InBev SA/NV, Anheuser-Busch InBev Finance Inc., Brandbrew SA, Brandbev Sarl and Cobrew NV.
BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and MUFG Securities Americas Inc. are the joint bookrunners and global coordinators. TD Securities (USA) LLC is also a bookrunner.
The proceeds will be used for general corporate purposes, including the repayment of upcoming debt maturities.
The drink and brewing company is based in Leuven, Belgium.
| Issuer: | Anheuser-Busch InBev Worldwide Inc.
|
| Guarantor: | Anheuser-Busch Cos., LLC, Anheuser-Busch InBev SA/NV, Anheuser-Busch InBev Finance Inc., Brandbrew SA, Brandbev Sarl and Cobrew NV
|
| Amount: | $1 billion
|
| Issue: | Notes
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| Maturity: | June 15, 2034
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| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and TD Securities (USA) LLC
|
| Senior co-managers: | BBVA Securities Inc. and Wells Fargo Securities, LLC
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| Co-manager: | ANZ Securities, Inc.
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| Coupon: | 5%
|
| Price: | 99.596
|
| Yield: | 5.052%
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| Spread: | Treasuries plus 75 bps
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| Call features: | At Treasuries plus 15 bps before March 15, 2034; after at par
|
| Trade date: | March 19
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| Settlement date: | March 21
|
| Ratings: | Moody’s: A3
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| S&P: A-
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| Distribution: | SEC registered
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| Price talk: | Treasuries plus 100-105 bps area
|
| Cusip: | 03523TBY3
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