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White & Case Advises Joint Lead Managers on Pernod Ricard's €1.5 Billion Dual Tranche Bond Issue

Global law firm White & Case LLP has advised the joint lead managers BNP Paribas, J.P. Morgan, Société Générale Corporate & Investment Banking, Barclays, Citigroup, CIC Market Solutions, HSBC, Natixis and SEB on Pernod Ricard's €1.5 billion dual tranche bond issue.

Pernod Ricard, the second largest worldwide producer of wines and spirits, has successfully completed the issue of euro-denominated bonds for a total of €1.5 billion in two tranches of €750 million each.

The bonds have maturities of five and ten years and bear interest at a rate of 1.125% for the five-year tranche and 1.750% for the ten-year tranche. The bonds were rated Baa1 by Moody's and BBB+ by S&P Global Ratings, both with a stable outlook.

The transaction was well received by the market, with a total order book above €5.5 billion for a total issue size of €1.5 billion. The bonds have been admitted to trading on the regulated market of Euronext in Paris since 6 April 2020.

The White & Case team in Paris which advised on the transaction was led by partner Grégoire Karila and included partner Alexandre Ippolito and associates Tatiana Uskova, Paul-Grégoire Longrois and Guillaume Keusch.

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