By Andrea Heisinger
New York, July 12 - Anheuser-Busch InBev Worldwide Inc. gave terms for its $7.5 billion of notes (A3/A/A) sold in four maturities late on Wednesday in an FWP filing with the Securities and Exchange Commission.
A $1.5 billion tranche of 0.8% three-year notes priced at 99.817 to yield 0.862% with 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 is a make-whole call at 10 bps over Treasuries.
There was $2 billion of 1.375% five-year notes sold at 99.712 to yield 1.435% with a spread of 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 notes carry a 12.5 bps over Treasuries make-whole call.
The third part was $3 billion of 2.5% 10-year notes priced at 99.518 to yield 2.555% with 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.
There is a make-whole call at 15 bps over Treasuries.
Finally, there was a $1 billion tranche of 3.75% 30-year bonds sold at 99.092 with 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.
The bonds feature a make-whole call at 20 bps over Treasuries.
Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were active bookrunners. Passives were BNP Paribas Securities Corp., Mitsubishi UFJ Securities International plc, Mizuho Securities USA Inc., RBS Securities Inc. and Societe Generale.
Proceeds are being used for general corporate purposes and for prefunding financing related to the merger with Grupo Modelo.
The deal is 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)
|
| Trade date: | July 11
|
| Settlement date: | July 16
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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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|
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| Three-year notes
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| Amount: | $1.5 billion
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| Maturity: | July 15, 2015
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| Coupon: | 0.8%
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| Price: | 99.817
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| Yield: | 0.862%
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| Spread: | Treasuries plus 50 bps
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| Call: | Make-whole at Treasuries plus 10 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: | July 15, 2017
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| Coupon: | 1.375%
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| Price: | 99.712
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| Yield: | 1.435%
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| Spread: | Treasuries plus 80 bps
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| Call: | Make-whole at Treasuries plus 12.5 bps
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| Price talk: | 95 bps area (whispered), 85 bps area (revised)
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|
|
| Ten-year notes
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| Amount: | $3 billion
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| Maturity: | July 15, 2022
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| Coupon: | 2.5%
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| Price: | 99.518
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| Yield: | 2.555%
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| Spread: | Treasuries plus 105 bps
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| Call: | Make-whole at Treasuries plus 15 bps
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| Price talk: | 125 bps (whispered), 110 bps area (revised)
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|
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| Thirty-year bonds
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| Amount: | $1 billion
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| Maturity: | July 15, 2042
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| Coupon: | 3.75%
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| Price: | 99.092
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| Yield: | 3.801%
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| Spread: | Treasuries plus 120 bps
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| Call: | Make-whole at Treasuries plus 20 bps
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| Price talk: | 150 bps (whispered), 125 bps area (revised)
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