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Guinness borrows up to $1 billion.

London-based Guinness PLC plans to borrow up to $1 billion for "a variety of corporate purposes," which could include acquisitions, the company reported.

Guinness officials said an agreement has been reached with several banks for a $1-billion debt-raising plan, which could be utilized in a variety of currencies.

Nevertheless, a Guinness spokesperson reported that a decision on where to spend the money has not yet been reached, and added that it could certainly be used for something other than acquisitions.

"This gives us greater access to the market, and to deals," the spokesperson said, but noted that "nothing specific" is planned.
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Title Annotation:Guinness PLC
Publication:Modern Brewery Age
Date:Aug 31, 1992
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