Pernod Ricard Successfully Completes a US$2.0 Billion Bond Issuance in Three Tranches

Press Release 29/09/2020

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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. 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. Pernod Ricard does not intend to register the offer detailed in the press release, in whole or in part, in the United States, and nor does it intend to carry out any public offer in the United States.


Amount (US$)





Re-offer spread






UST+85 bp






UST+105 bp






UST+145 bp


Pernod Ricard has yesterday set the terms of its new dollar-denominated bond issuance for an aggregated principal amount of US$2,000 million across three tranches: Long 7-Year, Long 10-Year and 30-Year.

The issuer of the bonds is Pernod Ricard International Finance LLC, a wholly-owned subsidiary of
Pernod Ricard SA, the guarantor of the bonds.

The favorable market conditions and the positive reception from investors to the issuance allowed
Pernod Ricard to price the issuance at an average coupon of 1.79% and an average maturity of 14.5 years. This transaction enables Pernod Ricard to lengthen the average maturity of its bond debt from 6.0 years to 7.2 years.


The net proceeds of this issuance will be used for general corporate purposes, which may include the partial or total redemption of the Pernod Ricard SA existing US$500 million notes due April 2021 and US$1,500 million notes due January 2022, with respective coupons of 5.75% and 4.45%. The significant coupon differential between the newly-issued debt and the debt to be redeemed would generate interest savings in the years to come.

This return to the US$ bond market is another step forward in Pernod Ricard's financial strategy to pro-actively manage near-term debt redemptions while reducing its average cost of debt and lengthening its maturity profile


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About pernod ricard

Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €10,701 million in fiscal year FY22. The Group, which owns 17 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolios in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur or Mumm and Perrier-Jouët champagnes. The Group’s mission is to unlock the magic of human connections by bringing “Good Times from a Good Place”, in line with its Sustainability and Responsibility roadmap. Pernod Ricard’s decentralised organisation empowers its 19,480 employees to be on-the-ground ambassadors of its purposeful and inclusive culture of conviviality, bringing people together in meaningful, sustainable and responsible ways to create value over the long term. Executing its strategic plan, Transform & Accelerate, Pernod Ricard now relies on its “Conviviality Platform”, a new growth model based on data and artificial intelligence to meet the ever-changing demand of consumers. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.

Contacts Pernod Ricard

Florence Tresarrieu
Global SVP Investors Relations and Treasury
Tel: +33 (0) 1 70 93 17 03
Charly Montet
Investor Relations Manager
Tel: +33 (0) 1 70 93 17 13
Emmanuel Vouin
Head of External Engagement
Tel: +33 (0) 1 70 93 16 34