FRANCE: Pernod to issue €1.4 billion loan
Pernod Ricard, the owner of Jameson whiskey and Jacob's Creek wine, is to issue a €1.4 billion (US$1.73 billion) syndicated bank loan to refinance borrowings for its acquisition of the Seagram drinks business in 2001.
The loan, the company said, will allow it to repay the debt it still has from the acquisition more favourably. In a statement, Pernod said it would benefit from the "removal of constraints and guarantees of the preceding loan".
Pernod said in a statement that it had mandated BNP Paribas, Calyon, JP Morgan and SGIB to place the multi-currency loan that will mature in five years.
At the end of 2003, Pernod had total debt of €2.1 billion, including €1.601 billion in net debt plus a €508m convertible bond, giving it a gearing of 77%.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Maxxium Worldwide could come under pressure if Pernod and Fortune's Allied Domecq bid is successful, according to press reports today (14 April)....
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
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