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SABMiller gives guidance on rare corporate Kangaroo bond

Reuters - UK Focus

By John Weavers

SYDNEY, July 30 (IFR) - SABMiller (Xetra: BRW1.DE - news) , a London-based multinational brewing and beverage company, has announced an offering of Australian dollar five-year medium-term notes via joint lead managers ANZ and Westpac.

Price guidance has been released at 135bp area over asset swaps for a trade due to price later today or tomorrow.

Although the issue, through FBG Treasury (Aust) Pty Ltd, is technically a domestic corporate offering, investors will treat it like a rare corporate Kangaroo because its global parent company is the guarantor.

SABMiller is the world's second-largest brewer in revenue terms, and rated A3/A- (Moody's/S&P). (Reporting By John Weavers; editing by Dharsan Singh and Daniel Stanton)