AB InBev’s FRN flies in €2.5bn hit deal

By Jon Hay
28 Mar 2014

Anheuser-Busch InBev, the Belgian-US brewing company, on Wednesday joined the spate of large companies issuing multi-tranche deals into the present super-hot euro corporate bond market. Its deal was marked by two current trends: the popularity of floating rate notes and of 12 year bonds.

AB InBev used the seven and 12 year combination that has become the standard in recent weeks for issuers wanting large size – though it followed issuers like BP in making the shorter tranche 7.5 years.

But it also added a shorter tranche, using the four year floater ...

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