Pernod Ricard Issues a One Billion Euro Bond
Pernod Ricard has issued a bond denominated in euros with a total value of one billion euros, according to a company statement.
Details of the Bond Issue
According to the statement, Pernod Ricard issued the bond in two tranches of 7 years and 11 years, each representing 500 million euros. The first tranche, maturing on February 4, 2033, was placed with a coupon of 3.25% and a yield of 3.315%, featuring an issuance spread of 85 basis points. The second tranche, maturing on February 4, 2037, offers a coupon of 3.75% with a yield of 3.804% and an issuance spread of 113 basis points. The issuance includes a private placement of 200 million euros for 2 years.
Utilization of the Proceeds
According to the company, the net proceeds from this issuance will be used for the general needs of Pernod Ricard. The bonds, rated Baa1 by Moody’s and BBB+ by Standard & Poor’s, are expected to be listed on Euronext Paris. The average coupon rate of this issuance is 3.30% with an average maturity of about 8 years.
Company Overview and Financial Performance
Pernod Ricard, a major player in the wine and spirits sector, recorded a consolidated turnover of 10,959 million euros for the fiscal year 2024/25. The group, which is part of the CAC 40 index, aims to use these funds to support its global operational and strategic activities.
