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SouthAfricanBrewerie (SAB)

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Monday 09 July, 2001


Issue of Debt

South African Breweries PLC
9 July 2001


South African Breweries plc
9 July 2001

South African Breweries Launches US$ 500 million Offering of Convertible Bonds

South African Breweries plc ('SAB'), one of the world's leading brewers with
operations in 22 countries, announced today that its wholly owned subsidiary
SAB Finance (Cayman Islands) Limited (the 'Issuer') has launched an offering
of US$ 500 million in aggregate principal amount of Guaranteed Convertible
Bonds due 2006 (the 'Bonds').  The Bonds are guaranteed by SAB and  South
African Breweries International (Finance) BV and are convertible into
exchangeable redeemable preference shares of the Issuer which will immediately
be exchanged for ordinary shares of SAB, which, at SAB's discretion, may be
either existing SAB shares held within Safari Limited, pursuant to SAB's
synthetic treasury stock structure established in 1999, or new SAB shares.
There is an over-allotment option of up to US$ 100 million.

The coupon of the Bonds is expected to be between 3.875% and 4.375%, per annum
and the conversion price is expected to be set at a premium of between 20% and
25% to the price of SAB's shares at the time of pricing.  The Bonds will be
issued and redeemed at par.  Holders of the Bonds will have the option to put
the Bonds back to SAB, at par, at the end of Year 4.  The Bonds are expected
to be priced on or before 11 July 2001 and closing is expected on or about 10
August 2001.

The proceeds of the Bonds will be used to refinance existing debt utilised for
past acquisitions, enhance SAB's funding flexibility for future acquisitions,
in line with SAB's strategy, and for general corporate purposes. The offering
will broaden SAB's investor base in the international capital markets,
lengthen the maturity profile of its debt and fix funding costs in a
relatively low interest rate environment.

Applications will be made for the Bonds to be listed and admitted to trading
on the London Stock Exchange's market for listed securities.  Stabilisation/

JPMorgan is the Sole Bookrunner and Lead Manager for the offering. Cazenove is
the Joint Lead Manager. Hawkpoint Partners are Financial Advisers to SAB
regarding the offering.

The issue comprises an offer to certain institutional investors in the United
Kingdom, the United States (in reliance upon Rule 144A under the United States
Securities Act of 1933  (the 'Securities Act')) and the rest of the world,
with offers to non-United States persons outside the United States being made
in reliance upon Regulation S under the Securities Act.

The information contained herein is not for distribution in the United States,
Canada or Japan and does not constitute an offer of Bonds for sale.  Bonds may
not be offered or sold in or into the United States unless they are registered
under applicable law or exempt from registration.  The Bonds referred to
herein have not, and will not, be registered under the Securities Act and may
not be offered or sold, subject to limited exceptions, directly or indirectly
in or into the United States.

For more information, please contact:

South African Breweries plc:
Malcolm Wyman
Chief Financial Officer                    +44 20 7659 0100
Nick Chaloner
Director of Communications                 +44 20 7659 0119/+44 7880 502 755

Tim Elliott                                +44 20 7325 4996
Ian Hannam                                 +44 20 7742 8205