Anheuser Busch InBev followed up January’s monster bond sale with what is reported to be the largest-ever sale ever of corporate bonds denominated in euros. Bond purchases by the US Fed and the ECB which have pushed yields towards record lows have made conditions ripe for large respected corporates to issue bonds at multi-decade low interest rates.
Initially AB InBev was said to be looking to raise €9.00 billion (AUD$13.5 billion) but it took advantage of the €32 billion in orders from investors and ended up issuing €13.25 billion (AUD$20 billion/USD$15 billion) of bonds across six tranches. While this may be large, it is modest compared to the monster USD$46 billion deal it completed in mid-January , it still makes most other bond sales look puny in comparison.