SABMiller brewing up $2.5bn refinancing at 60bp
Brewing firm SABMiller has launched a five year plus one plus one loan facility paying a margin of 60bp to its relationship banks. The $2.5bn refinancing line is being marketed to the group’s core lending group and is led by Bank of America Merrill Lynch and Commerzbank.
The pricing on this, like with other recent deals, is very aggressive, said a loans banker familiar with the deal. But then SABMiller has a huge wallet and is a global name, so banks are willing to subsidise its borrowings.
As bankers in the market expect a flood of
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