By Andrea Heisinger
New York, July 11 - Anheuser-Busch InBev Worldwide Inc. priced $7.5 billion of notes (A3/A/A) in four maturities on Wednesday, a source close to the deal said.
Full terms were not available at press time due to the lateness of pricing.
A $1.5 billion tranche of 0.8% three-year notes priced at a spread of Treasuries plus 50 basis points. The notes were sold tighter than initial talk in the 65 bps area and at the low end of guidance in the 55 bps area.
There was $2 billion of 1.375% five-year notes sold at 80 bps over Treasuries. The tranche sold tighter than whispered talk in the 95 bps area and at the low end of revised guidance in the 85 bps area.
The third part was $3 billion of 2.5% 10-year notes priced at a spread of 105 bps over Treasuries. The notes sold lower than initial talk in the 125 bps area and at the tight end of revised guidance in the 110 bps area.
Finally, there was a $1 billion tranche of 3.75% 30-year bonds sold at a spread of Treasuries plus 120 bps. The bonds were also priced significantly tighter than whispered guidance in the 150 bps area and at the low end of revised talk in the 125 bps area.
Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the active bookrunners. Passive bookrunners were BNP Paribas Securities Corp., Mitsubishi UFJ Securities International plc, Mizuho Securities USA Inc., RBS Securities Inc. and Societe Generale.
Proceeds will be used for general corporate purposes and for prefunding financing related to the merger with Grupo Modelo.
The securities are guaranteed by Anheuser-Busch InBev SA/NV, Brandbrew SA, Cobrew NV/SA and Anheuser-Busch Cos. LLC.
The beer brewer is based in Leuven, Belgium.
| Issuer: | Anheuser-Busch InBev Worldwide Inc.
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| Guarantors: | Anheuser-Busch InBev SA/NV, Brandbrew SA, Cobrew NV/SA, Anheuser-Busch Cos. LLC
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| Issue: | Notes
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| Amount: | $7.5 billion
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| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC (active), BNP Paribas Securities Corp., Mitsubishi UFJ Securities International plc, Mizuho Securities USA Inc., RBS Securities Inc., Societe Generale (passive)
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| Trade date: | July 11
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| Ratings: | Moody's: A3
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| Standard & Poor's: A
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| Fitch: A
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| Three-year notes
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| Amount: | $1.5 billion
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| Maturity: | 2015
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| Coupon: | 0.8%
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| Spread: | Treasuries plus 50 bps
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| Price talk: | 65 bps area (whispered), 55 bps area (revised)
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|
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| Five-year notes
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| Amount: | $2 billion
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| Maturity: | 2017
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| Coupon: | 1.375%
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| Spread: | Treasuries plus 80 bps
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| Price talk: | 95 bps area (whispered), 85 bps area (revised)
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|
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| 10-year notes
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| Amount: | $3 billion
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| Maturity: | 2022
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| Coupon: | 2.5%
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| Spread: | Treasuries plus 105 bps
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| Price talk: | 125 bps (whispered), 110 bps area (revised)
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| 30-year bonds
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| Amount: | $1 billion
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| Maturity: | 2042
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| Coupon: | 3.75%
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| Spread: | Treasuries plus 120 bps
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| Price talk: | 150 bps (whispered), 125 bps area (revised)
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