By Andrea Heisinger
New York, Jan. 5 - Pernod Ricard SA priced $2.5 billion of senior notes (Baa3/BBB-/) in three tranches on Thursday, a market source said.
An $850 million tranche of five-year notes priced at Treasuries plus 210 basis points.
An $800 million tranche of 10-year debt sold at 230 bps over Treasuries.
Finally, there was $850 million of 30-year bonds, which priced at 255 bps over Treasuries.
All of the tranches were sold at the low end of price guidance, which was 5 bps wider across the board, the source said.
The deal was done under Rule 144A and Regulation S. Full terms were not available at press time Thursday.
J.P. Morgan Securities LLC and RBS Securities Inc. were the bookrunners.
Pernod Ricard last priced debt in a $1.5 billion sale of 4.5% notes due 2022 on Oct. 20, 2011 at 230 bps over Treasuries.
The wine and spirits maker is based in Paris.
| Issuer: | Pernod Ricard SA
|
| Issue: | Senior notes
|
| Amount: | $2.5 billion
|
| Bookrunners: | J.P. Morgan Securities LLC, RBS Securities Inc.
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | Jan. 5
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
|
|
| Five-year notes
|
| Amount: | $850 million
|
| Maturity: | 2017
|
| Spread: | Treasuries plus 210 bps
|
| Price talk: | 215 bps area
|
|
|
| 10-year notes
|
| Amount: | $800 million
|
| Maturity: | July 2022
|
| Spread: | Treasuries plus 230 bps
|
| Price talk: | 235 bps area
|
|
|
| 30-year bonds
|
| Amount: | $850 million
|
| Maturity: | 2042
|
| Spread: | Treasuries plus 255 bps
|
| Price talk: | 260 bps area
|
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