TOKYO, May 8 (Reuters) - Suntory Holdings Ltd aims to raise about 800 billion yen ($8 billion) in debt to finance its purchase of U.S. spirits company Beam Inc, Japan’s third-biggest outbound deal ever, people familiar with the situation said.
The privately held Japanese beverage company is arranging the sale of senior and subordinated yen loans to banks and insurers, as well as dollar and yen bonds, to ensure longer-term funding of its recently completed $13.6 billion purchase of the maker of Jim Beam and Maker’s Mark bourbons, the sources said.
The fund-raising is to refinance the bulk of a $12.5 billion bridge loan, which was arranged and underwritten by Bank of Tokyo-Mitsubishi UFJ, the sources said.
Including the assumption of Beam’s net debt, Suntory’s purchase is valued at $16 billion.
A Suntory spokeswoman had no immediate comment. ($1 = 101.7150 Japanese Yen) (Reporting by Taiga Uranaka; Editing by William Mallard and Edmund Klamann)