Pernod Ricard: successful bond issue
(CercleFinance.com) - Pernod Ricard announced on Wednesday that it had successfully placed a 500 million euro bond issue to refinance part of its debt.
The spirits group said that favourable market conditions and positive investor response enabled it to place the bonds at an attractive coupon of 0.125%.
The proceeds of the issue are to be used to fully repay a 500 million euro bond issue due to mature in September 2023 that bears an annual interest rate of 1.875%.
Pernod Ricard's long-term senior debt is rated "Baa1" with a stable outlook by Moody's and "BBB+" with a stable outlook by Standard & Poor's.
Pernod shares were up 1.3% on Wednesday morning, slightly outperforming the CAC 40 index (up around 1%).
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The spirits group said that favourable market conditions and positive investor response enabled it to place the bonds at an attractive coupon of 0.125%.
The proceeds of the issue are to be used to fully repay a 500 million euro bond issue due to mature in September 2023 that bears an annual interest rate of 1.875%.
Pernod Ricard's long-term senior debt is rated "Baa1" with a stable outlook by Moody's and "BBB+" with a stable outlook by Standard & Poor's.
Pernod shares were up 1.3% on Wednesday morning, slightly outperforming the CAC 40 index (up around 1%).
Copyright (c) 2021 CercleFinance.com. All rights reserved.