BNY Mellon, a global leader in investment management and investment services, has been appointed trustee, registrar and paying agent on $47 billion in Anheuser-Busch InBev (AB InBev) debt used by the brewer to help finance its acquisition of SABMiller.
The issuance includes $46 billion in debt issued in the U.S. and $1.4 billion in Formosa bonds (U.S. dollar-denominated bonds issued by non-U.S. companies in Taiwan). It represents the largest issuance serviced by BNY Mellon's Corporate Trust business and one of the largest ever by a global corporation.
"BNY Mellon's ability to support large global financings across multiple markets was the key driver for being selected as trustee," said Fernando Tennenbaum, global treasurer for AB InBev. "This issuance attracted investors from around the world with a variety of requirements."
"We are particularly well-positioned to service financings like this one, which was well received by the investment community as demonstrated by its oversubscription and tightening spreads on a day when credit demand was not particularly strong," said Kathleen Scott, head of BNY Mellon's U.S. corporate and insurance business in the Corporate Trust group. "The attractive attributes of this issuance include AB InBev's strong reputation as a global brand and its consistent overall record with bondholders."
BNY Mellon has served as depositary bank for AB InBev's American Depositary Receipt (ADR) program since its launch in 2009. The security, which is listed on the NYSE, has become one of the most actively traded ADRs, with $49 billion in value traded in 2015.
BNY Mellon is a leading provider of corporate trust services to the debt capital markets, offering customized and market-driven solutions to investors, bondholders and lenders. As of Dec. 31, 2015, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 58,000 debt-related issues globally. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services including trustee, paying agency, fiduciary, escrow, and other financial services. The business administers a wide array of assets and types of programs to multinational corporations, financial institutions, governments and their agencies, and the banking, securities, and insurance industries.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Dec. 31, 2015, BNY Mellon had $28.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).