September 10, 2010
Amendments to the
$300,000,000 of 6.625% Guaranteed Notes due August 15, 2033 (the "Notes")
Rule 144A Note CUSIP No. 78572MAA3 / ISIN US78572MAA36
Regulation S Note CUSIP No. G77395AA2 / ISIN USG77395AA27
SABMiller plc on August 20, 2010 announced the commencement of a consent solicitation relating to the Notes as described in a solicitation statement (the "Solicitation Statement") issued to holders of the Notes on that day. The Company sought a consent to certain amendments and waivers in respect of the fiscal and paying agency agreement between the Company, MillerCoors LLC (the "US Guarantor") and The Bank of New York Mellon as Fiscal Agent as amended pursuant to which the Notes were issued and to the guarantee by the US Guarantor in relation thereto.
Valid consents were delivered and not revoked in respect of a majority of the aggregate principal amount of the Notes outstanding thereby approving the proposed amendments and waivers and the Company, the US Guarantor and The Bank of New York Mellon entered into a supplemental fiscal and paying agency agreement on September 10, 2010 giving effect to the amendments and waivers. The supplemental fiscal and paying agency agreement amended the previous fiscal and paying agency agreement, the terms and conditions of the Notes and the guarantee given by the US Guarantor to reflect the approved consents a) to release the US Guarantor from its guarantee of payment of principal of and interest on the Notes, b) to amend the both the cross acceleration threshold for present and future indebtedness, currently $20,000,000, and the threshold for events of defaults relating to a distress, attachment, execution or other legal process on the property of the Company, currently $50,000,000, to $125,000,000 and c) to consent to certain other procedural amendments.
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This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of SABMiller plc or any of its affiliates in any jurisdiction or an inducement to enter into investment activity.
About SABMiller plc
SABMiller is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's wide portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also one of the world's largest bottlers of Coca-Cola products.
In the year ended 31 March 2010, the group reported US$3,803 million in adjusted pre-tax profit and group revenue of US$26,350 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
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