Pernod Ricard completes tender offer for debt securities
Pernod Ricard has finalized a €1.2 billion tender offer for various notes as part of a move to manage its debt maturity profile.
Pernod Ricard has concluded the tender offer process launched on October 20, 2026, for a selection of its existing notes. The company accepted €319.4 million of notes maturing in September 2027 and €900 million of other notes maturing between 2027 and 2032. All acquired securities are scheduled for cancellation on October 30, 2026.
The repurchase is funded by a recently issued €1.5 billion hybrid bond, which the company expects to account for as equity under current IFRS standards. This strategy is intended to pro-actively manage the group's long-term capital structure and debt maturity schedule.
Regarding the September 2027 notes, the company noted that because tender participation did not reach the 75 percent threshold, it retains the right to redeem the remaining securities at a make-whole amount. Any further action regarding these notes remains subject to future market conditions.