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A-B to offer new investment program.

A-B to offer new investment program

Anheuser-Busch Cos., Inc. recently announced that it has filed a registration statement proposing the issuance of $300 million of senior convertible debentures with the Securities and Exchange Commission. The bonds would be sold to the brewer's 800 wholesalers under its previously announced Wholesaler Investment Program.

The program, which will be offered only to Anheuser-Busch wholesalers and their affiliates, will allow distributors to invest between $100,000 and $25 million with an annual interest rate between seven and nine percent.

The bonds can be converted into preferred stock, which can be converted into common stock, an Anheuser-Busch spokesman said.

"These debentures would give our wholesalers a direct interest in the financial success of Anheuser-Busch and a further incentive to maximize our mutual performance over the long term," said Jerry Ritter, vice president and group executive, Anheuser-Busch, Inc. Ritter added that Anheuser-Busch has arranged with Citicorp to provide financing for eligible wholesalers, who may use purchased bonds as collateral for the transaction.
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Title Annotation:Anheuser-Busch Cos.
Publication:Modern Brewery Age
Date:Sep 25, 1989
Words:166
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