Press releases
11/03/2010 : Successful completion of Pernod Ricard’s € 1.2 billion 6-year bond issue
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The distribution of this document in certain jurisdictions, may be restricted by law. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
This document does not constitute an offer, or an invitation to apply for, or an offer or invitation to purchase or subscribe for any securities either in the United States or in any other jurisdiction which may be subject to restrictions. Securities may not be offered or sold in the United States unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended. The Bonds have not been and will not be registered under the U.S Securities Act.
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Successful completion of Pernod Ricard’s € 1.2 billion 6-year bond issue
Press release – Paris, March 11th, 2010
Amount: EUR 1.2 billion
Final maturity: March 18th 2016
Settlement: March 18th 2010
Format: Fixed Rate Notes
Coupon: 4.875%
Reoffer price: 99.741%
Margin over reference swap mid rate: +220 basis points
ISIN Code: FR0010871376
PERNOD RICARD, whose long-term senior debt is rated Ba1 by Moody’s, BB+ by Standard & Poor’s and BB+ by Fitch, today set the terms of its new bond issue denominated in Euro.
The transaction was well received by the market and generated orders in excess of €5.5 billion, enabling the Group to benefit from improved funding conditions currently available in the capital markets while further diversifying its funding sources through a rebalancing of its mix of bank loans and bond debt.
The net proceeds of the issue will be used to redeem short-term tranches of the Group’s syndicated loan, thus extending the maturity profile of its external debt.
Placement was made across a range of qualified investors principally in the UK, Germany, Switzerland and France.
Application has been made to the Luxembourg Stock Exchange for the Bonds to be listed on the official list of the Luxembourg Stock Exchange
Pernod Ricard has appointed Barclays Capital, HSBC, Mitsubishi UFJ Securities International and Natixis as joint bookrunners managers of this issue.
In the context of this bond issuance, Pernod Ricard has updated the "Origin of Stolichnaya" litigation description. This update is available on the Pernod Ricard internet site at http://www.pernod-ricard.com/fr/pages/2756/pernod/Finance/Information-reglementee/Communiques.html
About Pernod Ricard
Created in 1975 by the merger of Pernod and Ricard, the Group has undergone sustained development, based on both organic growth and acquisitions. The purchase of part of Seagram (2001), the acquisitions of Allied Domecq (2005) and recently of Vin & Sprit (2008) have made Pernod Ricard the world’s co-leader in wines and spirits with consolidated sales of € 7,203 million in 2008/09.
Pernod Ricard holds one of the most prestigious brand portfolios in the sector: Absolut Premium Vodka, Ricard pastis, Ballantine’s, Chivas Regal and The Glenlivet Scotch whiskies, Jameson Irish Whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek and Montana wines.
Pernod Ricard employs a workforce of nearly 19,000 people and operates through decentralised organisation, with 6 “Brand Owners” and 70 “Distribution Companies” established in each key market.
Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption.
Pernod Ricard is listed on the NYSE Euronext exchange (Ticker: RI; ISIN code: FR0000120693) and is a member of the CAC 40 index.
DISCLAIMER
NO COMMUNICATION AND NO INFORMATION IN RESPECT OF THE OFFERING BY PERNOD RICARD OF THE BONDS MAY BE DISTRIBUTED TO THE PUBLIC IN ANY JURISDICTION WHERE A REGISTRATION OR APPROVAL IS REQUIRED. NO STEPS HAVE BEEN OR WILL BE TAKEN IN ANY JURISDICTION WHERE SUCH STEPS WOULD BE REQUIRED. THE OFFERING AND/OR SUBSCRIPTION OF THE BONDS ARE SUBJECT TO SPECIFIC LEGAL OR REGULATORY RESTRICTIONS IN CERTAIN JURISDICTIONS. PERNOD RICARD TAKES NO RESPONSIBILITY FOR ANY VIOLATION OF ANY SUCH RESTRICTIONS BY ANY PERSON.
THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING NOR AN INVITATION TO THE PUBLIC IN CONNECTION WITH ANY OFFER.
THIS ANNOUNCEMENT IS NOT A PROSPECTUS WITHIN THE MEANING OF DIRECTIVE 2003/71/EC OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF NOVEMBER 4TH, 2003 (AS IMPLEMENTED IN EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, THE “PROSPECTUS DIRECTIVE”).
WITH RESPECT TO THE MEMBER STATES OF THE EUROPEAN ECONOMIC AREA, WHICH HAVE IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A “RELEVANT MEMBER STATE”), NO ACTION HAS BEEN UNDERTAKEN OR WILL BE UNDERTAKEN TO MAKE AN OFFER TO THE PUBLIC OF THE BONDS REQUIRING A PUBLICATION OF A PROSPECTUS IN ANY RELEVANT MEMBER STATE. AS A RESULT, THE BONDS MAY ONLY BE OFFERED IN RELEVANT MEMBER STATES:
(A) TO LEGAL ENTITIES WHICH ARE AUTHORIZED OR REGULATED TO OPERATE IN THE FINANCIAL MARKETS OR, IF NOT SO AUTHORISED OR REGULATED, WHOSE CORPORATE PURPOSE IS SOLELY TO PLACE SECURITIES;
(B) TO ANY LEGAL ENTITY WHICH MEETS TWO OR MORE OF THE FOLLOWING CRITERIA: (1) AN AVERAGE OF AT LEAST 250 EMPLOYEES DURING THE LAST FINANCIAL YEAR; (2) A TOTAL BALANCE SHEET OF MORE THAN € 43 MILLION; AND (3) AN ANNUAL NET TURNOVER OF MORE THAN € 50 MILLION, AS PER ITS LAST ANNUAL OR CONSOLIDATED ACCOUNTS;
(C) IN ANY OTHER CIRCUMSTANCES, NOT REQUIRING PERNOD RICARD TO PUBLISH A PROSPECTUS AS PROVIDED UNDER ARTICLE 3(2) OF THE PROSPECTUS DIRECTIVE.
Contacts Pernod Ricard
Olivier CAVIL / Communication VP T : +33 (0)1 41 00 40 96
Denis FIEVET / Financial Communication – Investor Relations VP T : +33 (0)1 41 00 41 71
Florence TARON / Presse Relations Manager T : +33 (0)1 41 00 4