GLOBAL: Diageo aims to raise US$2.5bn from bond issue
Diageo has launched a three-tranche set of bonds that will net it US$2.5bn.
The company said earlier today (9 May) that the transaction comprises $1bn at 1.5% due in May 2017, $1bn at 2.875% due in May 2022 and $500m at 4.25% due in May 2042. The fixed-rate notes have been launched under Diageo's Debt Issuance Programme.
The issuer of the 2017 bonds is Diageo Capital and the issuer of the 2022 and 2042 bonds is Diageo Investment Corporation. Payment of the principal and interest is fully guaranteed by Diageo.
The company said that the proceeds will be used “primarily for general corporate purposes”.
To read the official announcement, click here.
Like many other 'industry observers', I noted Reuters' brief chat with UB Group's Vijay Mallya at the Indian Grand Prix last weekend with interest....
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