Diageo has launched and priced a bond to help with "general corporate purposes".

The drinks giant said yesterday (15 May) that the EUR750m (US$1.02bn) five-year Eurobond has been launched under its European Debt Issuance Programme.

Due on 22 May 2012, the issue is in floating rate format and linked to EURIBOR with a spread to 3 month EURIBOR of 0.24%.

Proceeds will be used for general corporate purposes, the company concluded.