FRANCE: Remy Cointreau to raise EUR65m from bond issue
The group is aiming to raise EUR65m from the bonds
Remy Cointreau has issued EUR65m (US$86.3m) worth of ten-year bonds.
The bonds, announced yesterday (13 August), have a fixed 4% coupon and are listed on the NYSE Euronext Brussels market, the Paris-based company said. The funds will allow the group to “strengthen its resources and extend its debt maturity”, it said.
The bonds, issued by Remy's Financière Rémy Cointreau SA/NV subsidiary, were placed with a “limited number of international institutional investors”.
Last month, the group reported a slip in first-quarter sales as a crackdown on gifting to civil servants and a ban on alcohol at luxury banquets in China took its toll.
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