LONDON - Anheuser-Busch InBev (EBR:ABI) SA/NV, the world's largest brewer, has established the pricing for its tender offers to repurchase certain outstanding euro and pound sterling denominated notes, the company announced today. The tender offers, which were initially communicated to holders on November 12, 2024, are part of the company's efforts to manage its debt portfolio.
The offers targeted three different series of notes: €750,000,000 2.000% notes due in 2035, £900,000,000 2.850% notes due in 2037, and £700,000,000 2.250% notes due in 2029. The total consideration for the purchase includes an early tender payment and assumes a settlement date of December 3, 2024.
As of the early tender deadline on November 25, the company received valid tenders for €95,237,000 in principal amount of the euro notes and £196,059,000 in aggregate principal amount of the pound sterling notes. Due to the offer cap being reached, no further notes tendered after the early tender time are expected to be accepted for purchase.
The settlement for the notes accepted is anticipated to occur on December 3, 2024, with holders receiving accrued and unpaid interest up to but not including the settlement date. All notes repurchased are to be canceled.
Anheuser-Busch InBev's decision to move forward with an early settlement reflects its right to conclude the offer earlier than the originally scheduled expiration time of December 11, 2024. This move is part of the company's broader strategy to optimize its capital structure and manage its liquidity.
The tender offers are being managed by BNP Paribas (OTC:BNPQY) Securities Corp., BofA Securities, Inc., Deutsche Bank (ETR:DBKGn) Aktiengesellschaft, J.P. Morgan SE, and Santander (BME:SAN) US Capital Markets LLC, acting as lead dealer managers.
This announcement is based on a press release statement and is intended to provide information regarding Anheuser-Busch InBev's financial activities. It should not be considered as advice or a recommendation to act upon the described tender offers.
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