SABMiller to Swap Bavaria Bonds

SABMiller to Swap Bavaria Bonds

Colombia

Global brewer SABMiller is said to be planning to issue up to COP2.5trn in local bonds to replace existing notes issued by now defunct brewer Bavaria. "Since Bavaria no longer exists because SABMiller bought it, SABMiller will issue new notes in its own name to replace Bavaria's," says a banker off the deal, adding that this will not entail the issuance of new debt. He adds that SABMiller intends to replace 4 tranches issued by Bavaria. Of the Bavaria notes, all of which are pegged to IPC, a 201

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