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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.

PERNOD RICARD SUCCESSFULLY COMPLETES A US$2.0 BILLION BOND ISSUANCE IN THREE TRANCHES

Amount (US$)

Maturity

Settlement

Coupon

Yield

Re-offer spread

600,000,000

01-Apr-2028

01-Oct-2020

1.250%

1.307%

UST+85 bp

900,000,000

01-Apr-2031

01-Oct-2020

1.625%

1.713%

UST+105 bp

500,000,000

01-Oct-2050

01-Oct-2020

2.750%

2.880%

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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Pernod Ricard SA published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2020 07:24:01 UTC