SAO PAULO, Brazil, July 17 /PRNewswire-FirstCall/ -- Companhia de
Bebidas das Americas - AmBev ("AmBev") announced today the pricing of the
notes to be issued by its wholly-owned subsidiary, AmBev International
Finance Co. Ltd. ("AmBev International"). AmBev International shall issue
R$300 million in Brazilian Reais denominated notes with a fixed interest of
9.500% per annum and maturity date of July 24, 2017. The issuance is
expected to close on July 24, 2007, subject to customary closing
The notes will be unsecured and unsubordinated obligations of AmBev
International and will be fully and unconditionally guaranteed by AmBev.
The guarantee ranks equally in right of payment with all of AmBev's other
unsecured and unsubordinated debt obligations (except for statutorily
preferred credits set forth in Brazilian bankruptcy laws).
The notes are denominated in Brazilian Reais, but both principal and
interest will be paid in U.S. dollars at the prevailing exchange rate at
the applicable payment date. Interest will be paid semi-annually in
arrears, starting January 24, 2008. The net proceeds of the offering will
be used for the repayment of short-term debts and for general corporate
purposes by AmBev and its subsidiaries.
The notes and guarantee have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act"), any
state securities laws or the securities laws of any other jurisdiction and
will be sold only to qualified institutional buyers pursuant to Rule 144A
under the Securities Act, and outside the United States to non-U.S. persons
in reliance on Regulation S. The notes and guarantee may not be offered or
sold in the United States absent registration under, or an applicable
exemption from, the registration requirements of the Securities Act.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the notes, nor shall there be any sale of
these notes in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
For additional information, please contact the Investor Relations
Our investor web site has additional Company financial and operating
information, as well as transcripts of conference calls. Investors may also
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of Company presentations and events.
Statements contained in this press release may contain information that
is forward-looking and reflects management's current view and estimates of
future economic circumstances, industry conditions, Company performance,
and financial results. Any statements, expectations, capabilities, plans
and assumptions contained in this press release that do not describe
historical facts, such as statements regarding the declaration or payment
of dividends, the direction of future operations, the implementation of
principal operating and financing strategies and capital expenditure plans,
the factors or trends affecting financial condition, liquidity or results
of operations, and the implementation of the measures required under
AmBev's performance agreement entered into with the Brazilian Antitrust
Authority (Conselho Administrativo de Defesa Economica - CADE) are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and involve a number of risks and
uncertainties. There is no guarantee that these results will actually
occur. The statements are based on many assumptions and factors, including
general economic and market conditions, industry conditions, and operating
factors. Any changes in such assumptions or factors could cause actual
results to differ materially from current expectations.