On Thursday 10 January, Anheuser-Busch InBev (“ABI”) launched a 6-tranche USD 15.5bn new bond issue, with maturity dates ranging from 2025 to 2059. In a busy start to the year, this represents the largest corporate bond issue so far in 2019, with Deutsche Bank as active bookrunner on the transaction.
At the same time, the company announced a tender offer for outstanding USD bonds maturing between 2021 – 2024 and 2026, targeting a total of USD 16.5bn. This represents the largest corporate debt tender ever announced.
Deutsche Bank has been at the forefront of the Investment-Grade credit market in the first two weeks of 2019, leading six USD offerings. In addition to ABI, the bank has been active bookrunner on deals for Marsh & McLennan (USD 5bn senior notes), Energy Transfer (USD 4bn senior notes), Ford Motor (USD 2.75bn senior notes), AerCap (USD 1.1bn senior notes) and FedEx (USD 500m notes).