Remy Cointreau plans to issue a seven-year high-yield bond, according to reports. A source close to the deal said yesterday (4 January) that the French wine and spirits group intends to issue a euro-denominated bond that will have a call option after four years.

The issue is expected to have a volume of around €150m (US$199m) and will roadshow in London today. The transaction is expected to price mid-week, the source added.

The banks lead managing the deal are Bank of America and BNP Paribas.

The producer of cognac and other spirits reported sales of €888m in the fiscal year to 31 March 2004.