AB InBev brews European benchmark

The loan market looks in its best shape for months as a slew of deals push the limits on pricing, maturity and size. Philips (A3/A-) is closing a Eu1.8bn five year revolver at the aggressive margin of 75bp over Euribor. Anheuser-Busch InBev (Baa2/BBB+) may set the new benchmark for the triple-B rated corporate if it comes to the European market with a rumoured $13bn three and five year refinancing in what could be Europe’s largest deal since the crisis hit. To find out more about this deal and others this week, read EuroWeek on Friday.