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.
With recent claims that China has become the world's biggest consumer of red wine, Chris Losh considers what wine producers can learn from the current travails facing international spirits companies i...
As one would expect, yesterday's news that Remy Cointreau's CEO, Frederic Pflanz, has stepped down after just three months in the role hit the French company's share price this morning....
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