FRANCE: Pernod Ricard plans bond issue
Pernod seeks fresh finance
Pernod Ricard has said it plans to raise extra finance by launching a Euro-denominated bond.
The France-based company, said today (10 March) that it has recruited Barclays Capital, HSBC, Mitsubishi UFJ Securities International and Natixis to orchestrate the bond issue.
Pernod did not say how much it is looking to raise nor what the finance would be used for. Timing of the issue will be "subject to market conditions", it said.
The wine & spirits group has been working to reduce debt since its acquisition of Absolut owner Vin & Sprit for EUR5.6bn ($7.6bn) in 2008.
Pernod's net debt fell by EUR565m to EUR10.3bn in the six months to the end of December 2009, due to the disposal of the Tia Maria brand and strong cash generation.
- Is Brown-Forman doing a Jack Daniel's in Ireland?
- Is Brown-Forman at the end of the SoCo road?
- Is time right for TWE to move for Diageo's wines?
- Are we kidding ourselves over craft spirits?
- Will a sexed-up SABMiller tempt AB InBev?
- Diageo secures Xerox Corp CFO as finance head
- Tesco pulls several Carlsberg SKUs in UK
- Diageo, Treasury Wine Estates quiet on wine sale
- Former Pernod Ricard exec joins Wakefield Wines
- Inver House Distillers posts FY profits leap
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research