FRANCE: Pernod Ricard launches bonds offering
French drinks combine, Pernod Ricard, has announced the launch of a EUR425 million convertible bond offering with the aim of refinancing some of the debt incurred in the acquisition of the Seagram spirits brands in late-2001.
The move will allow the group to reduce its interest charges.
The bond's value is expected to be set at a 25% to 30% premium over the Pernod Ricard share price. The bonds will be listed on Euronext Paris and are being placed by a group of banks led by JP Morgan Securities.
Companies: Pernod Ricard
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