PERNOD RICARD SUCCESSFULLY COMPLETES A BOND ISSUANCE:
'1,500 MILLION IN THREE TRANCHES
A 4-YEAR '500 MILLION BOND AT 0.000%
A 8-YEAR '500 MILLION BOND AT 0.500%
A 12-YEAR '500 MILLION BOND AT 0.875%
Pernod Ricard, whose long-term senior debt rating has just been upgraded to Baa1, stable outlook by Moody's and BBB+, stable outlook by Standard & Poor's, has today set the terms of its new Euro-denominated bond issue for an aggregate amount of '1.5bn across 3-tranches of 4, 8 and 12 years.
The transaction was well received by the market, with a total orderbook of '10.3bn for a total issue size of '1.5bn, resulting in an over subscription ratio of approximately 7 times. The Group is benefiting from the lowest coupons on all the tranches ever achieved on any of the Group's bond issuances, including a 0% coupon at 4 years. The favorable market conditions allow the Group to obtain an average coupon of 0.46% on the overall transaction and to extend its euro debt profile up to 12 years.
Placement was made across qualified investors.
Application will be made for the bonds to be admitted to trading on Euronext Paris.
BNP Paribas, Crédit Agricole CIB, Deutsche Bank AG, ING, Morgan Stanley, MUFG, Santander Corporate & Investment Banking, and Unicredit Bank were the joint bookrunners of this bond issue