June 29 (Bloomberg) -- Anheuser-Busch InBev NV, the world’s biggest brewer, said it will fund the acquisition of Mexico’s Grupo Modelo SAB with $14 billion of new loans.
The maker of Budweiser got a three-year, $8 billion term loan and a $6 billion facility for as long as two years, the Leuven, Belgium-based company said today in a statement by PR Newswire.
The financing is arranged by Bank of America Corp., Banco Santander SA, Bank of Tokyo-Mitsubishi UFJ Ltd., Barclays Plc, Deutsche Bank AG, Fortis Bank SA/NV, ING Groep NV, JPMorgan Chase & Co., Mizuho Corporate Bank Ltd., Royal Bank of Scotland Group Plc and Societe Generale SA, according to AB InBev’s spokeswoman Karen Couck.
The company expects its net debt to be below the target of 2 times its earnings before interest, tax, depreciation and amortization in 2014.
AB InBev said today it agreed to buy the remainder of Modelo it doesn’t already own for $20.1 billion, gaining full control of the Corona maker to increase its presence in emerging markets.
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