Free Trial

CONSUMER STAPLES: AB Inbev (ABIBB: A3/A-) Tender (x2)

CONSUMER STAPLES

Low cash px tender targeting the $ long-end and capped at $3b total. For ref. 1H net leverage was at net 3.4x/$70.4b (down -0.3x yoy) vs. target 2x. Q3 earnings were fine and equity payouts still going at pace; ~$3b in the 1H and another $2b/1yr buyback programme now active.

Reminder AB Inbev is in permanent deleveraging post its mammoth $107b acquisition of SABMiller in 2016.

65 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Low cash px tender targeting the $ long-end and capped at $3b total. For ref. 1H net leverage was at net 3.4x/$70.4b (down -0.3x yoy) vs. target 2x. Q3 earnings were fine and equity payouts still going at pace; ~$3b in the 1H and another $2b/1yr buyback programme now active.

Reminder AB Inbev is in permanent deleveraging post its mammoth $107b acquisition of SABMiller in 2016.