E-Malt.com News article: 1747

Heineken is seeking a loan to help finance its purchase of Austrian brewer BBAG. The Dutch brewer announced yesterday that it was looking to borrow an extra €1.2 billion having already raised €1.1 billion.
Earlier this month Heineken issues a €1.1billion eurobond to help with the purchase.

BBAG should cost the brewer €1.9 billion. The outstanding balance of the eurobond and the loan would be used to fund other general corporate purposes such as pension funding.

Company spokeswoman Manel Vrijenhoek told Reuters that Heineken is currently in talks with several banks.

"We hope in a couple of weeks to see which banks have written into this syndicated loan," she said, although she would not give further details about the banks involved.


03 November, 2003