28 March, 2017

Japan: Asahi to take on EUR7.4 bln in bank loans to finance purchase of AB InBev’s European assets

Japanese beer maker Asahi Group Holdings Ltd said on March 29 it will take on 7.4 billion euros (6.36 billion pounds) in bank loans to finance its acquisition of European assets from Anheuser-Busch InBev SAC NV.

The brewer, known for Japan's best-selling "Super Dry" beer, in December agreed to buy a group of eastern European beer brands, including Pilsner Urquell, from AB InBev for 7.3 billion euros.

In a statement, Asahi said it will take on short-term loans from Sumitomo Mitsui Banking Corp and Mizuho Bank Ltd.

Companies typically borrow on a short-term basis as bridging loans before securing permanent financing through, for instance, syndicated loans or bonds.

An Asahi spokesman said nothing has been decided about permanent financing.

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