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AB InBev bond bankers in line for huge payday

Reuters - UK Focus

By Philip Scipio

NEW YORK, Jan 14 (IFR) - Banks underwriting AB InBev's massive US$46bn bond sale are expected to split a windfall of between US$200m and US$250m, according to a company that tracks investment banking fees.

That is the expected payoff for handling the second-largest bond ever, according to Jeffrey Nassof, vice-president of Freeman & Company, which follows banking fees.

The money would be split between leads Bank of America (Swiss: BAC.SW - news) Merrill Lynch, Barclays (LSE: BARC.L - news) and Deutsche Bank (Other OTC: DBAGF - news) , and joint books Mitsubishi UFJ, Santander, and Societe Generale (Swiss: 519928.SW - news) .

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The bond, which priced Wednesday, was second in size only to Verizon (NYSE: VZ - news) 's US$49bn deal in 2013.

Verizon paid fees of 0.543% of funds raised, Nassof said - US$265m split between seven banks.

At the upper end of the US$200m-$250m range, the AB InBev fees would be in line with what Verizon paid, Nassof said. (Reporting by Philip Scipio; Editing by Shankar Ramakrishnan and Marc Carnegie)