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GBL: issues bonds exchangeable into Pernod shares

( - Groupe Bruxelles Lambert announced yesterday evening the placement of a 500 million euro issue of bonds exchangeable into Pernod Ricard shares.

With this issue, GBL says it wants to seize an "attractive" financing opportunity on the so-called "equity-linked" market, while continuing to benefit from the upside potential of the Pernod Ricard share.

The holding company said that the bonds will cover two million Pernod Ricard shares, representing 1% of the spirits group's capital, and 10% of its own holding.

With a maturity of three years, the bonds will bear an interest rate of 2.125% payable annually.

The initial exchange price has been set at 245.39 euros, which represents a premium of 32.5% over the reference share price.

Alongside the placement, GBL said it reinstates its long-term commitment to Pernod Ricard, continuing to support its management and strategy.

As noon approaches, GBL shares are up slightly (+0.3%) after the placement, while Pernod Ricard shares listed on Euronext Paris are down around 0.7%.

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