6th Apr 2022 08:26
(Alliance News) - Diageo PLC on Wednesday said it launched and priced fixed rate sterling and euro-denominated bonds on Tuesday.
The London-based distiller and brewer priced GBP900 million of fixed rate sterling-denominated bonds under its European Debt Issuance Programme, it explained.
The fixed rate euro-denominated bonds amount to EUR1.65 billion, the company added.
Issuers of the bonds will be Diageo Finance PLC for the sterling-denominated bonds and Diageo Capital BV for the euro-denominated bonds.
For the euro-denominated bonds, the drawdowns will consist of EUR750 million bonds due June 2029 with a coupon of 1.500% per year and EUR900 million bonds due June 2034 with a coupon of 1.875% per year.
The sterling-denominated bonds will consist of GBP300 million bonds due June 2028 with a coupon of 2.375% per year and GBP600 million bonds due June 2038 with a coupon of 2.750% per year.
The proceeds of the issuances "will be used for general corporate purposes," the company said.
For the sterling-denominated bonds, Diageo chose Barclays Bank PLC, Deutsche Bank AG, London Branch, Goldman Sachs Bank Europe SE and Merrill Lynch International as joint active bookrunners. Passive bookrunners are Credit Suisse International, RBC Europe Ltd and Standard Chartered Bank.
In regards to the euro-denominated bonds, the distiller picked Barclays Bank PLC, BofA Securities Europe SA, Deutsche Bank AG and Goldman Sachs Bank Europe SE as joint active bookrunners. Passive bookrunners for the bonds are Credit Suisse Bank (Europe) SA, RBC Europe Ltd and Standard Chartered Bank.
Diageo shares were 1.2% higher at 4,027.50 pence each in London on Wednesday morning.
By Tom Budszus; [email protected]
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