Bavaria To Prepay $27 Million Bonds

Colombian brewer Bavaria, owned by Anglo-South African SABMiller, has offered to prepay $27 million worth of bonds three months ahead of maturity, on October 27. The seven-year bonds were due to mature 2007. Bavaria is also due to prepay $146 million of 10-year bonds on October 4. Last May it prepaid $500 million worth of bonds. SABMiller, which bought Bavaria last year for around $9 billion, has been aiming to improve the company’s debt profile.