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AB InBev announces partial cancellation of USD 75.0 billion committed senior acquisition facilities
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: ABI
NYSE ADS Code: BUD
JSE Share Code: ANB
ISIN: BE0003793107
The enclosed information constitutes regulated information as defined in the Belgian Royal Decree of 14 November
2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated
market.
Anheuser-Busch InBev Announces Partial Cancellation of
USD 75.0 Billion Committed Senior Acquisition Facilities
Following Capital Markets Issuances
Anheuser-Busch InBev (“AB InBev”) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ABI) (JSE: ANB) announced today that it
has cancelled USD 42.5 billion of the USD 75.0 billion Committed Senior Acquisition Facilities following recent capital
markets issuances. Total net proceeds of approximately USD 47.0 billion were generated from the USD 46.0 billion
bond issuance announced on 13 January and the USD 1.47 billion Formosa transaction announced on 20 January.
Upon receipt of the net proceeds of the USD 46.0 billion offering, the Company was required to cancel the Bridge to
Cash / DCM Facilities A & B totaling USD 30.0 billion. Additionally the Company chose to make a voluntary
cancellation of USD 12.5 billion of the Term Facility A as permitted under the terms of the Committed Senior
Acquisition Facilities. A summation of the Facilities and the cancellation is below:
Applicable Original January 2016 Current
Facility Term Margin Amount Cancellation Amount
(bps)(1) (USD billions) (USD billions) (USD billions)
Term Facility A 3 Years L + 110 25.0 (12.5) 12.5
Term Facility B 5 Years L + 125 10.0 0.0 10.0
Disposals Bridge
1 Year L + 100 10.0 0.0 10.0
Facility
Bridge to Cash /
1 Year L + 100 15.0 (15.0) 0.0
DCM Facility A
Bridge to Cash /
2 Year L + 100 15.0 (15.0) 0.0
DCM Facility B
Total 75.0 (42.5) 32.5
(1) Based on the initial starting margin and subject to adjustment per the grid on pg. 25 of the USD 75.0 Billion Committed Senior
Facilities Agreement
It is intended that net proceeds from the announced sale of both SABMiller’s interests in MillerCoors and the global
Miller brand, and certain other future disposals, will be used to pay down and cancel the Disposals Bridge Facility in
due course.
Dutch and French versions of this press release will be posted on the website.
CONTACT
Media Investors
Marianne Amssoms Graham Staley
Tel: +1-212-573-9281 Tel: +1-212-573-4365
E-mail: marianne.amssoms@ab-inbev.com E-mail: graham.staley@ab-inbev.com
Karen Couck Christina Caspersen
Tel: +1-212-573-9283 Tel: +1-212-573-4376
E-mail: karen.couck@ab-inbev.com E-mail: christina.caspersen@ab-inbev.com
Kathleen Van Boxelaer Heiko Vulsieck
Tel: +32-16-27-68-23 Tel: +32-16-27-68-88
E-mail: kathleen.vanboxelaer@ab-inbev.com E-mail: heiko.vulsieck@ab-inbev.com
28 January 2016
JSE Sponsor
Deutsche Securities (SA) Proprietary Limited
About Anheuser-Busch InBev
Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) (MEXBOL: ABI) (JSD: ANB) based in Leuven,
Belgium, with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). It is the leading global
brewer and one of the world’s top five consumer products companies. Beer, the original social network, has been
bringing people together for thousands of years and our portfolio of well over 200 beer brands continues to forge
strong connections with consumers. This includes global brands Budweiser®, Corona® and Stella Artois®;
international brands Beck’s®, Leffe®, and Hoegaarden®; and local champions Bud Light®, Skol®, Brahma®,
Antarctica®, Quilmes®, Victoria®, Modelo Especial®, Michelob Ultra®, Harbin®, Sedrin®, Klinskoye®, Sibirskaya
Korona®, Chernigivske®, Cass®, and Jupiler®. Anheuser-Busch InBev’s dedication to quality goes back to a brewing
tradition of more than 600 years and the Den Hoorn brewery in Leuven, Belgium, as well as the pioneering spirit of
the Anheuser & Co brewery, with origins in St. Louis, USA since 1852. Geographically diversified with a balanced
exposure to developed and developing markets, Anheuser-Busch InBev leverages the collective strengths of its
approximately 155 000 employees based in 25 countries worldwide. In 2014, AB InBev realized USD 47.1 billion
revenue. The company strives to be the Best Beer Company Bringing People Together For a Better World. Learn
more at ab-inbev.com, at facebook.com/ABInBev or on Twitter through @ABInBevNews.
NOTES
Cautionary note regarding forward-looking statements
This press 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 relating to AB InBev’s proposed
acquisition of SABMiller and other statements other than historical facts. Forward-looking statements include statements typically
containing words such as “will”, “may”, “should”, “believe”, “intends”, “expects”, “anticipates”, “targets”, “estimates”, “likely”,
“foresees” 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 SABMiller 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 the satisfaction of the pre-conditions and the conditions to the transactions described
herein, the ability to obtain the regulatory approvals related to the transactions and the ability to satisfy any conditions required to
obtain such approvals, and the risks relating to AB InBev described under Item 3.D of its Annual Report on Form 20-F (“Form 20-F”)
filed with the US Securities and Exchange Commission (“SEC”) on 24 March 2015 and in Exhibit 99.4 to its Report on Form 6-K (the
“SABMiller 6-K”) filed with the SEC on 21 December 2015. Other unknown or unpredictable factors could cause actual results to
differ materially from those in the forward-looking statements. There can be no certainty that the proposed transactions will be
completed on the terms described herein or at all.
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, the SABMiller 6-K and other reports furnished on Form 6-K, and any other documents
that AB InBev or SABMiller have 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.
Future SEC Filings and This Filing: Important Information
In the event that AB InBev and SABMiller implement a transaction relating to the acquisition of SABMiller by AB InBev, AB InBev or
Newco (a Belgian limited liability company to be formed for the purposes of such transaction) may be required to file relevant
materials with the SEC. Such documents, however, are not currently available. INVESTORS ARE URGED TO READ ANY DOCUMENTS
REGARDING SUCH POTENTIAL TRANSACTION IF AND WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Investors will be able to obtain a free copy of such filings without charge, at the SEC’s website (http://www.sec.gov)
once such documents are filed with the SEC. Copies of such documents may also be obtained from AB InBev, without charge, once
they are filed with the SEC.
Notice to US investors
US holders of SABMiller shares should note that the steps of any transaction requiring approval by SABMiller shareholders may be
implemented under a UK scheme of arrangement provided for under English company law. If so, it is expected that any shares to be
issued under the transaction to SABMiller shareholders would be issued in reliance upon the exemption from the registration
requirements of the US Securities Act of 1933, provided by Section 3(a)(10) thereof and would be subject to UK disclosure
requirements (which are different from those of the United States). The transaction may instead be implemented by way of a
takeover offer under English law. If so, any securities to be issued under the transaction to SABMiller shareholders will be registered
under the US Securities Act, absent an applicable exemption from registration. If the transaction is implemented by way of UK
takeover offer, it will be done in compliance with the applicable rules under the US Exchange Act of 1934, including any applicable
exemptions provided under Rule 14d-1(d) thereunder.
This filing shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.
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