AB InBev bonds widen on first day of trading
By Hillary Flynn
NEW YORK, Jan 14 (IFR) - Five of the six fixed-rate tranches issued as part of brewing giant AB InBev's US$46bn bond to finance its acquisition of SABMiller (Xetra: BRW1.DE - news) , were bid wider on Thursday.
The two-year tranche was 2bp wider at T+87bp, the three-year 3bp wider at T+123bp, the seven and 10-year at T+155bp and T+165bp respectively gapped out 5bp, and the 20-year was bid 1bp away at T+191bp.
The 30-year tranche was the only exception as it was bid 1bp inside at T+203bp, a market source said.
The bond, the second biggest on record, priced to huge demand on Wednesday with a US$110bn order book.
(Reporting by Hillary Flynn; Editing by Natalie Harrison)