Wrap Text
Anheuser-Busch InBev Announces Redemption of USD 2.55 Billion and EUR 1.16 Billion
Anheuser-Busch InBev SA/NV
(Incorporated in the Kingdom of Belgium)
Register of Companies Number: 0417.497.106
Euronext Brussels Share Code: ABI
Mexican Stock Exchange Share Code: ANB
NYSE ADS Code: BUD
JSE Share Code: ANH
ISIN: BE0974293251
(“AB InBev” or the “Company”)
Anheuser-Busch InBev Announces Redemption of USD 2.55 Billion and EUR 1.16 Billion
Brussels, 16 November 2020 -- Anheuser-Busch InBev SA/NV (“AB InBev”) (Euronext: ABI) (NYSE: BUD)
(MEXBOL: ANB) (JSE: ANH) today announced that it and its wholly-owned subsidiaries Anheuser-Busch
InBev Worldwide Inc. (“ABIWW”) and Anheuser-Busch InBev Finance Inc. (“ABIFI”) are exercising their
respective options to redeem the outstanding principal amounts indicated in the table below of the following
series of notes on the dates indicated in the table below (any such date, a “Redemption Date”):
Aggregate Principal
Aggregate Principal Amount to be
Issuer Amount Outstanding Redeemed Title of Series of Notes ISIN Redemption Date
4.000% Notes due 2021 3 December
AB InBev EUR 519,372,000 EUR 519,372,000 (the “4.000% AB InBev BE6221503202
2020
Notes”)
0.800% Notes due 2023 3 December
(the “0.800% AB InBev
AB InBev EUR 644,331,000 EUR 644,331,000 BE6276039425 2020
Notes”, and together with
the 4.000% AB InBev
Notes, the “EUR Notes”)
2.625% Notes due 2023 16 December
ABIFI USD 476,226,000 USD 476,226,000 (the “2.625% ABIFI US035242AA44 2020
Notes”)
3.300% Notes due 2023 16 December
ABIFI USD 1,331,987,000 USD 1,331,987,000 (the “3.300% ABIFI US035242AL09 2020
Notes”)
1
Aggregate Principal
Aggregate Principal Amount to be
Issuer Amount Outstanding Redeemed Title of Series of Notes ISIN Redemption Date
3.700% Notes due 2024 16 December
ABIFI USD 489,095,000 USD 489,095,000 (the “3.700% ABIFI US03524BAE65 2020
Notes”)
3.500% Notes due 2024 16 December
(the “ABIWW Notes”, and
2020
together with the 2.625%
ABIFI Notes, the 3.300%
ABIWW USD 250,091,000 USD 250,091,000 ABIFI Notes and the US035240AJ96
3.700% ABIFI Notes, the
“USD Notes”) (the USD
Notes together with the
EUR Notes, the “Notes”)
The EUR Notes will be redeemed in accordance with their respective Conditions in full on the relevant
Redemption Date at a make-whole price equal to (i) the outstanding principal amount of the relevant EUR
Notes; or (ii) if higher, the sum, as determined by the Calculation Agent, of the present values of the
remaining scheduled payments of principal and interest on the relevant EUR Notes to be redeemed (not
including any portion of such payments of interest accrued to the date of redemption) discounted to the
relevant Redemption Date on an annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the rate per annum equal to the equivalent yield to maturity of the Reference Rate calculated
using a price for the Reference Rate (expressed as a percentage of its principal amount) equal to the
Reference Bond Price for the relevant Redemption Date plus 15 basis points (in respect of the 0.800% AB
InBev Notes) or 22 basis points (in respect of the 4.000% AB InBev Notes) (the "EUR Redemption Price").
The EUR Redemption Price will be calculated on the third Business Day preceding the Redemption Date.
Capitalized terms used in this paragraph have the meanings assigned to such terms in the respective
Conditions of the EUR Notes.
The 2.625% ABIFI Notes will be redeemed in full on the relevant Redemption Date at a make-whole
redemption price in an amount calculated by the Independent Investment Banker, and equal to the greater
of (i) 100% of the principal amount of the 2.625% ABIFI Notes; and (ii) as determined by the Independent
Investment Banker, the sum of the present values of the remaining scheduled payments of principal and
interest on the 2.625% ABIFI Notes to be redeemed (not including any portion of such payments of interest
accrued to the relevant Redemption Date) discounted to the relevant Redemption Date on a semiannual
basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis
points; plus, in each case, accrued and unpaid interest on the principal amount of the 2.625% ABIFI Notes
2
to be redeemed to (but excluding) the relevant Redemption Date. The Treasury Rate will be calculated on
the third Business Day preceding the relevant Redemption Date. Such redemption is pursuant to the terms
of the Indenture, dated as of January 17, 2013, by and among ABIFI, AB InBev, the subsidiary guarantors
named therein and The Bank of New York Mellon Trust Company, N.A., as trustee (the “January 2013
Indenture”), the Third Supplemental Indenture thereto, dated as of January 17, 2013 (the “Third
Supplemental Indenture to the January 2013 Indenture”), and the terms of the 2.625% ABIFI Notes.
Capitalized terms used in this paragraph have the meanings assigned to such terms in the January 2013
ABIFI Indenture, the Third Supplemental Indenture to the January 2013 Indenture and the terms of the
2.625% ABIFI Notes, as applicable.
The 3.300% ABIFI Notes will be redeemed in full on the relevant Redemption Date at a make-whole
redemption price in an amount calculated by the Independent Investment Banker, and equal to the greater
of (i) 100% of the principal amount of the 3.300% ABIFI Notes; and (ii) as determined by the Independent
Investment Banker, the sum of the present values of the remaining scheduled payments of principal and
interest on the 3.300% ABIFI Notes to be redeemed as if the 3.300% ABIFI Notes matured on 1 December
2022 (not including any portion of such payments of interest accrued to the relevant Redemption Date)
discounted to the relevant Redemption Date on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 25 basis points; plus, in each case, accrued and unpaid
interest on the principal amount of the 3.300% ABIFI Notes to be redeemed to (but excluding) the relevant
Redemption Date. The Treasury Rate will be calculated on the third Business Day preceding the relevant
Redemption Date. Such redemption is pursuant to the terms of the Indenture, dated as of January 25, 2016,
by and among ABIFI, AB InBev, the subsidiary guarantors named therein and The Bank of New York Mellon
Trust Company, N.A., as trustee (the “January 2016 Indenture”), the Third Supplemental Indenture
thereto, dated as of January 25, 2016 (the “Third Supplemental Indenture to the January 2016
Indenture”), and the terms of the 3.300% ABIFI Notes. Capitalized terms used in this paragraph have the
meanings assigned to such terms in the January 2016 ABIFI Indenture, the Third Supplemental Indenture
to the January 2016 Indenture and the terms of the 3.300% ABIFI Notes, as applicable.
The 3.700% ABIFI Notes will be redeemed in full on the relevant Redemption Date at a make-whole
redemption price in an amount calculated by the Independent Investment Banker, and equal to the greater
of (i) 100% of the principal amount of the 3.700% ABIFI Notes; and (ii) as determined by the Independent
Investment Banker, the sum of the present values of the remaining scheduled payments of principal and
interest on the 3.700% ABIFI Notes to be redeemed (not including any portion of such payments of interest
accrued to the relevant Redemption Date) discounted to the relevant Redemption Date on a semiannual
basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis
3
points; plus, in each case, accrued and unpaid interest on the principal amount of the 3.700% ABIFI Notes
to be redeemed to (but excluding) the relevant Redemption Date. The Treasury Rate will be calculated on
the third Business Day preceding the relevant Redemption Date. Such redemption is pursuant to the terms
of the January 2013 Indenture, the Eleventh Supplemental Indenture thereto, dated as of January 27, 2014
(the “Eleventh Supplemental Indenture”), and the terms of the 3.700% ABIFI Notes. Capitalized terms
used in this paragraph have the meanings assigned to such terms in the January 2013 ABIFI Indenture,
the Eleventh Supplemental Indenture and the terms of the 3.700% ABIFI Notes, as applicable.
The ABIWW Notes will be redeemed in full on the relevant Redemption Date at a make-whole redemption
price in an amount calculated by the Independent Investment Banker, and equal to the greater of (i) 100%
of the principal amount of the ABIWW Notes; and (ii) as determined by the Independent Investment Banker,
the sum of the present values of the remaining scheduled payments of principal and interest on the ABIWW
Notes to be redeemed as if the ABIWW Notes matured on 12 December 2023 (not including any portion of
such payments of interest accrued to the relevant Redemption Date) discounted to the relevant Redemption
Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate plus 15 basis points; plus, in each case, accrued and unpaid interest on the principal amount of the
4.375% ABIWW Notes to be redeemed to (but excluding) the relevant Redemption Date. The Treasury
Rate will be calculated on the third Business Day preceding the relevant Redemption Date. Such
redemption is pursuant to the terms of the Indenture, dated as of 4 April 2018, by and among ABIWW, AB
InBev, the subsidiary guarantors named therein and The Bank of New York Mellon Trust Company, N.A.,
as trustee (the “April 2018 Indenture”, and together with the January 2016 Indenture and the January 2013
Indentures, the “Indentures”), the First Supplemental Indenture thereto, dated as of 4 April 2018 (the “First
Supplemental Indenture”, and together with the Third Supplemental Indenture to the January 2013
Indenture, the Third Supplemental Indenture to the January 2016 Indenture and the Eleventh Supplemental
Indenture, the “Supplemental Indentures”), and the terms of the ABIWW Notes. Capitalized terms used
in this paragraph have the meanings assigned to such terms in the April 2018 Indenture, the First
Supplemental Indenture and the terms of the ABIWW Notes, as applicable.
On the relevant Redemption Date, (i) the Notes will no longer be deemed outstanding, (ii) the Redemption
Price will become due and payable on the Notes, as applicable, and, (iii) unless AB InBev, ABIWW or ABIFI
default in making payment of the Redemption Price, interest on the Notes called for redemption shall cease
to accrue on and after the relevant Redemption Date.
4
The Trustee and the Domiciliary Agent are transmitting to registered holders of the Notes the notices of
redemption containing information required by the Indentures, the Supplemental Indentures and the terms
in the respective Conditions of the EUR Notes, as applicable. Three Business Days prior to the Redemption
Date with respect to the USD Notes, the Trustee will transmit to registered holders of the Notes ABIWW
and ABIFI’s respective supplemental notices containing the redemption price of the USD Notes. For the
redemption price of the EUR Notes, please contact BNP Paribas Fortis
(cmops.securitiesoperations.cb@bnpparibasfortis.com).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor
will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the securities laws of any such state or
other jurisdiction.
English, Dutch and French versions of this press release will be available on www.ab-inbev.com.
ANHEUSER-BUSCH INBEV CONTACTS
Investors Media
Lauren Abbott Ingvild Van Lysebetten
Tel: +1 212 573 9287 Tel: +32 16 276 608
E-mail: lauren.abbott@ab-inbev.com E-mail: ingvild.vanlysebetten@ab-inbev.com
Maria Glukhova Fallon Buckelew
Tel: +32 16 276 888 Tel: +1 310 592 6319
E-mail: maria.glukhova@ab-inbev.com E-mail: fallon.buckelew@ab-inbev.com
Jency John Fixed Income Investors
Tel: +1 646 746 9673 Daniel Strothe
E-mail: jency.john@ab-inbev.com Tel: +1 646 746 9667
E-mail: daniel.strothe@ab-inbev.com
16 November 2020
Sponsor: Questco Corporate Advisory Proprietary Limited
5
About Anheuser-Busch InBev
Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico
(MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock
Exchange (NYSE: BUD). Our Dream is to bring people together for a better world. Beer, the original social network, has been bringing
people together for thousands of years. We are committed to building great brands that stand the test of time and to brewing the best
beers using the finest natural ingredients. Our diverse portfolio of well over 500 beer brands includes global brands Budweiser®,
Corona® and Stella Artois®; multi-country brands Beck’s®, Castle®, Castle Lite®, Hoegaarden® and Leffe®; and local champions
such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®, Cristal®, Harbin®, Jupiler®, Michelob Ultra®, Modelo Especial®,
Quilmes®, Victoria®, Sedrin®, and Skol®. Our brewing heritage dates back more than 600 years, spanning continents and
generations. From our European roots at the Den Hoorn brewery in Leuven, Belgium. To the pioneering spirit of the Anheuser & Co
brewery in St. Louis, US. To the creation of the Castle Brewery in South Africa during the Johannesburg gold rush. To Bohemia, the
first brewery in Brazil. Geographically diversified with a balanced exposure to developed and developing markets, we leverage the
collective strengths of approximately 175,000 employees based in nearly 50 countries worldwide. For 2019, AB InBev’s reported
revenue was 52.3 billion USD (excluding JVs and associates).
Forward-Looking Statements
This release contains “forward-looking statements”. These statements are based on the current expectations and views of future
events and developments of the management of AB InBev and are naturally subject to uncertainty and changes in circumstances.
The forward-looking statements contained in this release include statements other than historical facts and include statements typically
containing words such as “will”, “may”, “should”, “believe”, “intends”, “expects”, “anticipates”, “targets”, “estimates”, “likely”, “foresees”,
“preparing” and words of similar import. All statements other than statements of historical facts are forward-looking statements. You
should not place undue reliance on these forward-looking statements, which reflect the current views of the management of AB InBev,
are subject to numerous risks and uncertainties about AB InBev and are dependent on many factors, some of which are outside of
AB InBev’s control. There are important factors, risks and uncertainties that could cause actual outcomes and results to be materially
different, including, but not limited to, the effects of the COVID-19 pandemic and uncertainties about its impact and duration and the
risks and uncertainties relating to AB InBev described under Item 3.D of AB InBev’s Annual Report on Form 20-F (“Form 20-F”) filed
with the US Securities and Exchange Commission (“SEC”) on 23 March 2020 and described in Exhibit 99.1 to AB InBev’s Current
Report on Form 6-K filed with the SEC on 29 October 2020. Many of these risks and uncertainties are, and will be, exacerbated by
the COVID-19 pandemic and any worsening of the global business and economic environment as a result. Other unknown or
unpredictable factors could cause actual results to differ materially from those in the forward-looking statements.
The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere,
including AB InBev’s most recent Form 20-F and other reports furnished on Form 6-K, and any other documents that AB InBev has
made public. Any forward-looking statements made in this communication are qualified in their entirety by these cautionary statements
and there can be no assurance that the actual results or developments anticipated by AB InBev will be realized or, even if substantially
realized, that they will have the expected consequences to, or effects on, AB InBev or its business or operations. Except as required
by law, AB InBev undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
6
ab-inbev.com
Date: 16-11-2020 03:49:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
