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BNY Mellon appointed trustee, registrar and paying agent on USD47bn Anheuser-Busch InBev debt

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BNY Mellon has been appointed trustee, registrar and paying agent on USD47 billion in Anheuser-Busch InBev (AB InBev) debt used by the brewer to help finance its acquisition of SABMiller.

The issuance includes USD46 billion in debt issued in the US and USD1.4 billion in Formosa bonds (US dollar-denominated bonds issued by non-US 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," says 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," says Kathleen Scott, head of BNY Mellon's US 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 USD49 billion in value traded in 2015.

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