The French wines and spirits group, Pernod Ricard, has announced that it is to redeem its 2.5% convertible bond (OCEANE), originally due in 2008, on 20 September 2005.

The company added that the bonds in respect of which holders have not exercised their conversion/exchange rights prior to the redemption date will be redeemed on that date at an early redemption price of €114.52 per bond, together with an amount of €1.92014 per bond in respect of interest accrued from 1 January 2005 to 19 September.