CVC raises $1 billion senior debt financing for purchase of Anheuser-Busch assets

By Sara Rosenberg

New York, Oct. 15 - CVC Capital Partners raised roughly $1 billion of senior debt financing to help fund its acquisition of Anheuser-Busch InBev's Central European operations, according to a news release.

The debt was raised from a group of international and regional banks.

Under the terms of the agreement, CVC is buying Anheuser-Busch's operations in Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Romania, Serbia and Slovakia.

CVC has also agreed to brew and/or distribute Stella Artois, Beck's, Löwenbräu, Hoegaarden, Spaten and Leffe in the above countries under license from Anheuser-Busch.

The transaction has an enterprise value of $2.231 billion and additional rights to a future payment estimated to be as much as $800 million contingent on CVC's return on its initial investment.

The transaction is expected to close by January 2010, subject to customary conditions, including regulatory clearances.

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