- YouTube/Bud Light
Beer giants AB InBev and SABMiller have agreed to the beer deal of the decade.
The maker of Budweiser plans to buy its rival brewer for about $67.62 per share, valuing the Miller maker at about $109 billion.
They’re going to need to sell a lot of bonds to finance the deal.
Bloomberg’s Dinesh Nair, Thomas Buckley, and Ruth David report that AB InBev wants to sell up to $55 billion in bonds to finance the deal.
That would set a new record for debt issued to finance a corporate takeover, according to the report, exceeding Verizon’s $49 billion bond sale back in 2013 when it was buying the chunk of Verizon Wireless it didn’t already own.
As Business Insider’s Jon Marino reported in August, “jumbo bonds” – bond deals worth $10 billion or more – have hit an all-time high.