| Tue 1 Jul 2008, 8:02 | | SAB - SABMiller Plc Miscellaneous |
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SAB
SOSAB
SAB - SABMiller Plc Miscellaneous
SABMILLER PLC
JSEALPHA CODE : SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
SABMILLER PLC
1 July 2008
"In connection with the combining of the US and Puerto Rico operations of Miller
Brewing Company ("Miller") and Coors Brewing Company, SABMiller plc (the
"Company") makes the following announcement relating to the undernoted debt
securities:
US$600,000,000 4.25% Notes issued by Miller due 2008 ("2008 Notes")
US$1,100,000,000 5.50% Notes issued by Miller due 2013 ("2013 Notes")
US$300,000,000 6.625% Notes issued by the Company due 2033 ("2033 Notes")
US$300,000,000 Floating Rate Notes issued by the Company due 2009 ("2009 Notes")
US$600,000,000 6.20% Notes issued by the Company due 2011 ("2011 Notes")
US$850,000,000 6.50% Notes issued by the Company due 2016 ("2016 Notes" and
together with the 2008 Notes, the 2013 Notes, the 2033 Notes, the 2009 Notes and
the 2011 Notes, the "Notes").
MBC1, LLC a limited liability company organized under the laws of the State of
Wisconsin ("MBC1"), MBC2, LLC, a limited liability company organized under the
laws of the State of Wisconsin ("MBC2"), Miller Products Company, LLC (formerly
Miller Products Company), a limited liability company organized under the laws
of the State of Wisconsin ("MPC"), Miller Breweries West, L.P., a Wisconsin
limited partnership ("MBW") and Miller Breweries East, LLC (formerly Miller
Breweries East, Inc.), a limited liability company organized under the laws of
the State of Wisconsin ("MBE" and together with MBC1, MBC2, MPC and MBW, the
"Former US Guarantors") have each transferred substantially the entirety of
their assets to Miller pursuant to an intra-group reorganisation. As a result of
this transfer, pursuant to the terms and conditions and other documents
governing the Notes and pursuant to supplemental agreements entered into, the
Former US Guarantors have ceased to be guarantors of the Notes and have been
relieved from all their obligations with respect to the Notes. Subsequently,
pursuant to the terms and conditions and other documents governing the 2008 and
2013 Notes and pursuant to supplemental agreements entered into, the Company has
assumed all of the outstanding obligations of Miller and Miller has been
released from all of its obligations with respect to the 2008 Notes and the 2013
Notes. Subsequently, pursuant to the guarantees and other documents governing
the 2009 Notes, 2011 Notes and 2016 Notes, Miller has been released from all of
its obligations as guarantor with respect to the 2009 Notes, 2011 Notes and 2016
Notes. Subsequently, Miller has transferred substantially the entirety of its
assets to MillerCoors LLC, a limited liability company organized under the laws
of the State of Delaware. As a result of this transfer, pursuant to the terms
and conditions and other documents governing the 2033 Notes and pursuant to a
supplemental agreement entered into, Miller has ceased to be a guarantor of the
2033 Notes and has been relieved of all of its obligations with respect to the
2033 Notes, which were at the same time assumed in full by MillerCoors LLC. The
Company remains the primary obligor with respect to the 2033 Notes.
Consequently, pursuant to the terms of the Company`s US$1 billion commercial
paper programme ("CPP"), commercial paper issued under the CPP hereafter will
not be guaranteed. In addition, the Company has also obtained the consent of the
lenders under its syndicated loan facilities to the release of guarantees under
the relevant facilities."
John Davidson
General Counsel and Group Secretary
SABMiller plc
Date: 01/07/2008 08:02:27 Produced by the JSE SENS Department.
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