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SABMiller raises R1bn in bond issue

27 Mar 2013

Brewing giant SABMiller (SAB) has through its subsidiary‚ SABSA Holdings‚ raised R1bn from investors in its first bond issue‚ at a yield of 7.125%.

SABMiller chief financial officer Jamie Wilson said: "We are delighted with the positive response we have received from investors to our first bond issue in the South African market for nearly six years‚ which was very competitively priced. We believe this reflects the continuing strengths of SABMiller's business and brands‚ both in SA and globally".

The company plans to use the proceeds for general corporate purposes.

Source: I-Net Bridge

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