Successful completion of Pernod Ricard’s € 800 million bond issue
Sources and tags:
Pernod-Ricard announces the success of its bond issue.
Amount: EUR 800 million
Final maturity: 15 January 2015
Settlement: 15 June 2009
Format: Fixed Rate Notes
Coupon: 7.00%
Reoffer price: 99.822%
Margin over reference interest rate swap: 400 basis points
ISIN Code: FR0010766329
PERNOD RICARD, whose long-term senior debt is rated Ba1 by Moody’s, BB+ by Standard &
Poor’s and BB+ by Fitch, set today the terms of its new bond issue denominated in Euro.
This transaction enabled the company to benefit from issuance conditions which significantly
improved during the last weeks, and diversify its sources of finance.
The size and quality of the subscription (€ 5.25 bn book of orders) enabled the transaction to
be priced at very favorable margin levels (400 basis points over reference interest rate swap).
The proceeds of the issue will be used to pay down the shortest-term tranches of the
syndicated loan, thus extending the maturity of the Group’s debt.
Placement was made across a range of qualified investors principally in France, the UK,
Switzerland and Germany.
Application has been made to the Luxembourg Stock Exchange for the Bonds to be listed on
the official list of the Luxembourg Stock Exchange.
PERNOD RICARD has appointed Deutsche Bank, Natixis, Royal Bank of Scotland and
Société Générale CIB as joint bookrunners to lead, manage and place this issue.
No related posts.
Leave your response!