ITALY: Campari completes $250m placement to refinance debt
Campari said today (18 June) that it has completed the placement, which split into senior notes of $40m, $100m and $110m set to mature in five, seven and ten years respectively.
The unsecured notes carry fixed annual interest rates of 6.83%, 7.50% and 7.99%.
Campari said proceeds from the placement, which increased from $150m to $250m due to strong demand from investors, "will be used to refinance debt incurred by the group in connection with the recent acquisition of Wild Turkey, and will substantially lengthen the maturity profile at favourable interest rates with no scheduled principal amortisation".
Pernod Ricard announced in April that it had agreed to sell Bourbon brand Wild Turkey to Campari for US$575m.
At only 37 years old, Alexandre Ricard's swift ascent on the Pernod Ricard power ladder has turned heads in the industry. His latest role, as CEO of Irish Distillers, has coincided with strong growth ...
Pernod Ricard and Diageo's pitched battle on the fairways of world golf is hotting up....
Pernod Ricard has signed a sponsorship deal with China's Omega Mission Hill World Cup for its Ballantine's Scotch whisky brand....
Pernod Ricard's Powers 12 Year Old Special Reserve...
Fortune Brands, owner of Beam Global Spirits & Wine, expects to increase the proportion of its sales from outside of the US, group chief financial officer Craig Omtvedt has told an investor conference...
The top ten stories published on just-drinks this week:...
Pernod Ricard has confirmed it plans to sell one of its bottling facilities in Scotland....
just-drinks has today (19 November) published an interview with Irish Distillers CEO Alexandre Ricard. Here are five career facts about the man tipped to one day head Pernod Ricard's empire....
- Industry is following the pack to patriotic party
- The category today - Scotch Whisky I
- Key Brands Performance - Scotch Whisky IV
- Today's Market Trends - Scotch Whisky II
- Tomorrow's Market Trends - Scotch Whisky III
- Brown-Forman shuffles director pack
- Diageo unveils first European Johnnie Walker House
- Spirits can fill music industry gap - Jagermeister
- Diageo's Smirnoff Red, White & Berry - NPD
- Wm Grant redesigns Glenfiddich 21yo Gran Reserva
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Soft Drinks Global Overview: Growth Opportunities Between Category Lines
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global travel retail insights - market forecasts, product innovation and consumer trends