Copenhagen, March 17 - Danish brewer Carlsberg said on Monday the financing of its joint bid with Heineken for UK brewer Scottish and Newcastle was secure despite the fast-spreading global financial crisis.
"We are not in the least worried about the financing and please note that I am saying, 'not in the least'," said Carlsberg spokesman Jens Skaarup.
Carlsberg and Heineken agreed this year to buy Scottish & Newcastle for 7.8 billion pounds ($15.5 billion) to carve up Britain's biggest brewer.
Carlsberg's funding structure for the transaction includes up to 31.5 billion crowns ($6.66 billion) of new equity to be issued within a year but be made available at completion of the deal through a subordinated equity bridge debt facility, according to ratings agency Fitch.
BNP Paribas, Danske Bank, Lehman Brothers and Nordea are bookrunners for a 2.57 billion pound ($5.1 billion) syndicated loan backing Carlsberg's share of the bid.