By Devika Patel
Knoxville, Tenn., Oct. 26– Pernod Ricard SA (Baa1/BBB+/) priced €1.1 billion of sustainability-linked bonds in two tranches, according to a press release.
The company sold €600 million of 3.25% notes due 2028 to yield 3.478% with a spread of mid-swaps plus 55 basis points.
Pernod Ricard priced €500 million of 3.75% notes due 2032 to yield 3.931%. The notes were sold at mid-swaps plus 93 bps.
The issue targets are linked to the group’s commitment to reduce its absolute greenhouse gas emissions and decrease the water consumption per unit at distilleries.
Proceeds will be used for general corporate purposes.
Pernod Ricard is a Paris-based wine and spirits producer.
| Issuer: | Pernod Ricard SA
|
| Amount: | €1.1 billion
|
| Description: | Sustainability-linked bonds
|
| Announcement date: | Oct. 26
|
| Settlement date: | Nov. 2
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
|
|
| Six-year bonds
|
| Amount: | €600 million
|
| Maturity: | Nov. 2, 2028
|
| Coupon: | 3.25%
|
| Yield: | 3.478%
|
| Spread: | Mid-swaps plus 55 bps
|
|
|
| 10-year bonds
|
| Amount: | €500 million
|
| Maturity: | Nov. 2, 2032
|
| Coupon: | 3.75%
|
| Yield: | 3.931%
|
| Spread: | Mid-swaps plus 93 bps
|
|
|
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