Anheuser-Busch InBev (AB InBev) moved on Friday to clear another hurdle on its $108bn proposed acquisition of SABMiller.

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The maker of Budweiser and Stella Artois wants to align the terms and conditions of its other bonds with those of the €40bn note it issued in January to fund the proposed acquisition of its smaller rival. Since 2009, AB InBev has issued 17 notes, for a total value of €26.65bn.
The modifications were crucial to avoid any possible suggestion that the merging of the two brewers under a new holding company could be read as a cessation of AB InBev as a business, said the company. Such an interpretation could trigger a potential default on the terms and conditions of the old issued notes.
"We wanted to be proactive and considered that it would be beneficial to amend certain terms and conditions of the legacy notes to ensure that all of noteholders of the company are treated on a consistent basis to allow for the combination," AB InBev said. "This does not change any other terms, like the coupon or maturity date."
Source: Business Day