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Successful refinancing of debt related to the Vin&Sprit acquisition following the syndication of a €2.5 billion multi-currency revolving credit facility

On 25 April 2012 Pernod Ricard, in concert with a group of 25 banks, signed a new € 2.5 billion 5-year multi-currency revolving credit facility.

Successful refinancing of debt related to the Vin&Sprit acquisition following the syndication of a €2.5 billion multi-currency revolving credit facility

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The Facility will be used for general corporate purposes and for refinancing all outstanding amounts under the € 2.978 billion, US$ 10.138 billion and € 2.020 billion multi-currency facilities dated 27 March 2008.

Syndication of the Facility, launched on 2 April 2012, closed more than twice oversubscribed. The success of this syndication underlines the confidence in the credit quality of Pernod Ricard and the great support that the Company has from its core international banks.

The Facility was arranged by BNP Paribas and J.P. Morgan Limited which acted as Global Coordinators, Bookrunners and Mandated Lead Arrangers which were joined in syndication by 16 Bookrunners and Mandated Lead Arrangers, 3 Lead Arrangers and 4 Arrangers.

Gilles Bogaert, Managing Director Finance, declared:
Following our most recent successful euro and US dollar bond issues, this new syndicated credit facility marks the final step in the refinancing of the debt related to the Vin&Sprit acquisition. Thanks to the commitment of a large pool of international banks and to the recent improvement in the bank debt market, we managed to implement this refinancing at attractive conditions and in a flexible manner through a multi-currency revolving facility. Pernod Ricard’s average debt maturity now exceeds seven years.”
 

 

About Pernod Ricard

Pernod Ricard is the world’s co-leader in wines and spirits with consolidated sales of € 7,643 million in 2010/11. 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 (formerly Montana), Campo Viejo and Graffigna wines. Pernod Ricard employs a workforce of nearly 18,000 people and operates through a decentralised organisation, with 6 “Brand Companies” and 70 “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 the NYSE Euronext exchange (Ticker: RI; ISIN code: FR0000120693) and is a member of the CAC 40 index.



Contacts Pernod Ricard

  • Jean TOUBOUL / Financial Communication – Investor Relations VP
    Tel: +33 (0)1 41 00 41 71
  • Stéphanie SCHROEDER / External Communications Deputy Director
    Tel: +33 (0)1 41 00 42 74
  • Alison DONOHOE / Investor Relations
    Tel: +33 (0)1 41 00 42 14
  • Florence TARON / Press Relations Manager
    Tel: +33 (0)1 41 00 40 88

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