Pernod Ricard Initiates Tender Offer for Bonds and Plans New Note Issuance

Pernod Ricard has announced a tender offer for seven series of notes due between September 2027 and November 2032. The offer includes notes with varying interest rates and maturities, totaling billions in potential buybacks. Concurrently, the company plans to issue new deeply subordinated notes in euros, under their EMTN programme. This move aims at optimizing capital structure and managing redemption schedules. Noteholders participating in the tender will have a priority option for the new notes. The tender runs from October 20 to October 27, 2026, with results expected on October 28. Completion depends on the successful issuance of the new notes.