Pernod refinances debt from Vin&Sprit purchase

26 April, 2012

Pernod Ricard, supported by 25 banks, has signed a new €2.5 billion, five-year multi-currency revolving credit facility.

The facility will be used for general corporate purposes and for refinancing all outstanding amounts under the €2.978 billion, US$10.138 billion and €2.020 billion multi-currency facilities dated  March 27 2008.

Gilles Bogaert, Pernod’s managing director finance, said: “Following our most recent successful euro and US dollar bond issues, this new syndicated credit facility marks the final step in the refinancing of the debt related to the Vin&Sprit acquisition.

“Thanks to the commitment of a large pool of international banks and to the recent improvement in the bank debt market, we managed to implement this refinancing at attractive conditions and in a flexible manner through a multi-currency revolving facility. Pernod Ricard’s average debt maturity now exceeds seven years.”





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