Successful completion of Pernod Ricard’s € 1.2 billion 6-year bond issue03/11/2010
PERNOD RICARD, whose long-term senior debt is rated Ba1 by Moody’s, BB+ by Standard & Poor’s and BB+ by Fitch, today set the terms of its new bond issue denominated in Euro.
Not for distribution directly or indirectly in the United States, the United Kingdom, Canada or Japan.
The distribution of this document in certain jurisdictions, may be restricted by law. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
This document does not constitute an offer, or an invitation to apply for, or an offer or invitation to purchase or subscribe for any securities either in the United States or in any other jurisdiction which may be subject to restrictions. Securities may not be offered or sold in the United States unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended. The Bonds have not been and will not be registered under the U.S Securities Act.
|Amount||EUR 1.2 billion|
|Final maturity||March 18th 2016|
|Settlement||March 18th 2010|
|Format||Fixed Rate Notes|
|Margin over reference swap mid rate||+220 basis points|
The transaction was well received by the market and generated orders in excess of €5.5 billion, enabling the Group to benefit from improved funding conditions currently available in the capital markets while further diversifying its funding sources through a rebalancing of its mix of bank loans and bond debt.
The net proceeds of the issue will be used to redeem short-term tranches of the Group’s syndicated loan, thus extending the maturity profile of its external debt.
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 Barclays Capital, HSBC, Mitsubishi UFJ Securities International and Natixis as joint bookrunners managers of this issue.
Le produit net de l’émission sera affecté au remboursement des tranches les plus courtes du crédit syndiqué permettant d’allonger la maturité de la dette.
DISCLAIMERNO COMMUNICATION AND NO INFORMATION IN RESPECT OF THE OFFERING BY PERNOD RICARD OF THE BONDS MAY BE DISTRIBUTED TO THE PUBLIC IN ANY JURISDICTION WHERE A REGISTRATION OR APPROVAL IS REQUIRED. NO STEPS HAVE BEEN OR WILL BE TAKEN IN ANY JURISDICTION WHERE SUCH STEPS WOULD BE REQUIRED. THE OFFERING AND/OR SUBSCRIPTION OF THE BONDS ARE SUBJECT TO SPECIFIC LEGAL OR REGULATORY RESTRICTIONS IN CERTAIN JURISDICTIONS. PERNOD RICARD TAKES NO RESPONSIBILITY FOR ANY VIOLATION OF ANY SUCH RESTRICTIONS BY ANY PERSON.
THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING NOR AN INVITATION TO THE PUBLIC IN CONNECTION WITH ANY OFFER.
THIS ANNOUNCEMENT IS NOT A PROSPECTUS WITHIN THE MEANING OF DIRECTIVE 2003/71/EC OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF NOVEMBER 4TH, 2003 (AS IMPLEMENTED IN EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, THE “PROSPECTUS DIRECTIVE”).
WITH RESPECT TO THE MEMBER STATES OF THE EUROPEAN ECONOMIC AREA, WHICH HAVE IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A “RELEVANT MEMBER STATE”), NO ACTION HAS BEEN UNDERTAKEN OR WILL BE UNDERTAKEN TO MAKE AN OFFER TO THE PUBLIC OF THE BONDS REQUIRING A PUBLICATION OF A PROSPECTUS IN ANY RELEVANT MEMBER STATE. AS A RESULT, THE BONDS MAY ONLY BE OFFERED IN RELEVANT MEMBER STATES:
(A) TO LEGAL ENTITIES WHICH ARE AUTHORIZED OR REGULATED TO OPERATE IN THE FINANCIAL MARKETS OR, IF NOT SO AUTHORISED OR REGULATED, WHOSE CORPORATE PURPOSE IS SOLELY TO PLACE SECURITIES;
(B) TO ANY LEGAL ENTITY WHICH MEETS TWO OR MORE OF THE FOLLOWING CRITERIA: (1) AN AVERAGE OF AT LEAST 250 EMPLOYEES DURING THE LAST FINANCIAL YEAR; (2) A TOTAL BALANCE SHEET OF MORE THAN € 43 MILLION; AND (3) AN ANNUAL NET TURNOVER OF MORE THAN € 50 MILLION, AS PER ITS LAST ANNUAL OR CONSOLIDATED ACCOUNTS;
(C) IN ANY OTHER CIRCUMSTANCES, NOT REQUIRING PERNOD RICARD TO PUBLISH A PROSPECTUS AS PROVIDED UNDER ARTICLE 3(2) OF THE PROSPECTUS DIRECTIVE.
About Pernod Ricard
Pernod Ricard is the world’s n°2 in wines and spirits with consolidated Sales of € 8,558 million in 2014/15. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin&Sprit (2008). Pernod Ricard holds one of the most prestigious brand portfolios in the sector: Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier- Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo, Graffigna and Kenwood wines. Pernod Ricard employs a workforce of approximately 18,000 people and operates through a decentralised organisation, with 6 “Brand Companies” and 80 “Market Companies” established in each key market. Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption. Pernod Ricard’s strategy and ambition are based on 3 key values that guide its expansion: entrepreneurial spirit, mutual trust and a strong sense of ethics. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN code: FR0000120693) and is part of the CAC 40 index.
Contacts Pernod Ricard
Julia MASSIES / Financial Communication – Investor Relations VP
Tel: +33 (0)1 41 00 41 71
Sylvie MACHENAUD / Director External Communications
Tel: +33 (0)1 41 00 42 74
Emmanuel VOUIN / Press Relations Manager
Tel: +33 (0)1 41 00 44 04
Apolline CELEYRON / Press Relations Officer
Tel: +33 (0)1 41 00 40 97