{"success":true,"data":{"pressRelease":{"id":"176470","rtpr_id":"nBw293q01a-20261022","ticker":"PERP","exchange":"Euronext Paris","all_tickers":["PERP"],"title":"Pernod Ricard Successfully Completes Hybrid Bonds Issuance of €1.5 Billion","author":"Business Wire","published_at":"2026-10-22T07:17:00.066Z","article_body":"Pernod Ricard Successfully Completes Hybrid Bonds Issuance of €1.5 Billion\n\nRegulatory News:\n\nPress Release – Paris, 22(nd) October 2026\n\nNot for distribution directly or indirectly in Canada or Japan. The\ndistribution of this document in certain jurisdictions may be restricted by\nlaw. Persons who come into possession of this document are required to inquire\nabout, and comply with, potential local restrictions. This document does not\nconstitute an offer, or an invitation to apply for, or an offer or invitation\nto purchase or subscribe for any securities either in the United States or in\nany other jurisdiction. Securities may not be offered or sold in the United\nStates, or to or for the account or benefit of U.S. persons (as defined in\nRegulation S under U.S. Securities Act of 1933), unless they are registered or\nexempt from registration under the U.S. Securities Act of 1933, as amended.\nPernod Ricard does not intend to register the offer detailed in the press\nrelease, in whole or in part, in the United States, and nor does it intend to\ncarry out any public offer in the United States.\n\nPernod Ricard (Paris:RI), the long-term senior debt of which is rated Baa1\n(negative outlook) by Moody’s and BBB+ (negative outlook) by Standard &\nPoor’s, has today set the terms of its new Euro-denominated undated non call\ndeeply subordinated fixed rate resettable notes issue for an aggregate amount\nof €1.5 billion across a dual tranche PNC5.25 and PNC8.\n\nThe favorable market conditions and the positive reception from investors to\nthe issuance allowed Pernod Ricard to price the issuance at a coupon of 5.625%\non the Perpetual Non-Call 5.25 tranche and 6.125% on the Perpetual Non-Call 8\ntranche\n Amount (EUR)  Maturity   Settlement       Coupon  Yield  \n 750,000,000   Perpetual  28 October 2026  5.625%  5.75%  \n               \n                                          \n               \nNC 5.25                                   \n 750,000,000   Perpetual  28 October 2026  6.125%  6.25%  \n               \n                                          \n               \nNC 8                                      \n\n\nThe net proceeds of the hybrid issuance will be used for general corporate\npurposes, including the financing of the concomitant tender offer on seven\nexisting series of notes maturing in September 2027, October 2027, November\n2028, April 2030, November 2030, March 2032 and November 2032.\n\nPlacement was made across qualified investors.\n\nAn application will be made for the bonds to be admitted to trading on\nEuronext Paris.\n\nThe Hybrid Bonds are rated Baa3 by Moody’s and BBB- by Standard &\nPoor’s.\n\nAbout Pernod Ricard\n\nPernod Ricard is a worldwide leader in the spirits and champagne industry,\nblending traditional craftsmanship, state‐of‐the‐ art brand‐building,\nand global distribution technologies. Our prestigious portfolio of premium to\nluxury brands includes Absolut vodka, Ricard pastis, Ballantine’s, Chivas\nRegal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey,\nMartell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and\nPerrier‐Jouët champagnes. Our mission is to ensure the long‐term\ndevelopment of our brands with full respect for people and the environment,\nwhile empowering our employees around the world to be ambassadors of our\npurposeful, inclusive and responsible culture of authentic conviviality.\nPernod Ricard’s consolidated sales amounted to €9,404 million in FY26.\n\nPernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and\nis part of the CAC 40 index\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261022112137/en/\n(https://www.businesswire.com/news/home/20261022112137/en/)\n\nJoelle Ferran / Global VP, Investor Relations & Financial Communication\n+33 (0) 1 70 93 25 37 \n\nEdward Mayle / Investor Relations Director +33 (0) 6 76 85 00 45 \n\nInes Lo Franco / Investor Relations Manager +33 (0) 1 70 93 17 13 \n\nEmmanuel Vouin / Head of External Engagement +33 (0) 1 70 93 16 34\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw293q01a-20261022","title":"Pernod Ricard Successfully Completes Hybrid Bonds Issuance of €1.5 Billion","author":"Business Wire","ticker":"PERP","created":"2026-10-22T07:17:00.066Z","tickers":["PERP"],"exchange":"Euronext Paris","article_body":"Pernod Ricard Successfully Completes Hybrid Bonds Issuance of €1.5 Billion\n\nRegulatory News:\n\nPress Release – Paris, 22(nd) October 2026\n\nNot for distribution directly or indirectly in Canada or Japan. The\ndistribution of this document in certain jurisdictions may be restricted by\nlaw. Persons who come into possession of this document are required to inquire\nabout, and comply with, potential local restrictions. This document does not\nconstitute an offer, or an invitation to apply for, or an offer or invitation\nto purchase or subscribe for any securities either in the United States or in\nany other jurisdiction. Securities may not be offered or sold in the United\nStates, or to or for the account or benefit of U.S. persons (as defined in\nRegulation S under U.S. Securities Act of 1933), unless they are registered or\nexempt from registration under the U.S. Securities Act of 1933, as amended.\nPernod Ricard does not intend to register the offer detailed in the press\nrelease, in whole or in part, in the United States, and nor does it intend to\ncarry out any public offer in the United States.\n\nPernod Ricard (Paris:RI), the long-term senior debt of which is rated Baa1\n(negative outlook) by Moody’s and BBB+ (negative outlook) by Standard &\nPoor’s, has today set the terms of its new Euro-denominated undated non call\ndeeply subordinated fixed rate resettable notes issue for an aggregate amount\nof €1.5 billion across a dual tranche PNC5.25 and PNC8.\n\nThe favorable market conditions and the positive reception from investors to\nthe issuance allowed Pernod Ricard to price the issuance at a coupon of 5.625%\non the Perpetual Non-Call 5.25 tranche and 6.125% on the Perpetual Non-Call 8\ntranche\n Amount (EUR)  Maturity   Settlement       Coupon  Yield  \n 750,000,000   Perpetual  28 October 2026  5.625%  5.75%  \n               \n                                          \n               \nNC 5.25                                   \n 750,000,000   Perpetual  28 October 2026  6.125%  6.25%  \n               \n                                          \n               \nNC 8                                      \n\n\nThe net proceeds of the hybrid issuance will be used for general corporate\npurposes, including the financing of the concomitant tender offer on seven\nexisting series of notes maturing in September 2027, October 2027, November\n2028, April 2030, November 2030, March 2032 and November 2032.\n\nPlacement was made across qualified investors.\n\nAn application will be made for the bonds to be admitted to trading on\nEuronext Paris.\n\nThe Hybrid Bonds are rated Baa3 by Moody’s and BBB- by Standard &\nPoor’s.\n\nAbout Pernod Ricard\n\nPernod Ricard is a worldwide leader in the spirits and champagne industry,\nblending traditional craftsmanship, state‐of‐the‐ art brand‐building,\nand global distribution technologies. Our prestigious portfolio of premium to\nluxury brands includes Absolut vodka, Ricard pastis, Ballantine’s, Chivas\nRegal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey,\nMartell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and\nPerrier‐Jouët champagnes. Our mission is to ensure the long‐term\ndevelopment of our brands with full respect for people and the environment,\nwhile empowering our employees around the world to be ambassadors of our\npurposeful, inclusive and responsible culture of authentic conviviality.\nPernod Ricard’s consolidated sales amounted to €9,404 million in FY26.\n\nPernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and\nis part of the CAC 40 index\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261022112137/en/\n(https://www.businesswire.com/news/home/20261022112137/en/)\n\nJoelle Ferran / Global VP, Investor Relations & Financial Communication\n+33 (0) 1 70 93 25 37 \n\nEdward Mayle / Investor Relations Director +33 (0) 6 76 85 00 45 \n\nInes Lo Franco / Investor Relations Manager +33 (0) 1 70 93 17 13 \n\nEmmanuel Vouin / Head of External Engagement +33 (0) 1 70 93 16 34\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-22T07:17:00.118546302Z","server_sent_at_ms":1792653420118},"received_at":"2026-10-22T07:17:00.176Z","source_url":"https://www.businesswire.com/news/home/20261022112137/en/"},"analysis":{"id":"164445","press_release_id":"176470","analysis_json":{"industry":{"label":"Beverages","sector":"Consumer Staples"},"redFlags":["senior debt on negative outlook from both Moody's and S&P","hybrid coupons of 5.625%-6.125% reflect elevated financing costs"],"eventType":"debt_offering","narrative":"Pernod Ricard completed a €1.5 billion euro-denominated deeply subordinated hybrid notes issuance across two perpetual tranches: PNC5.25 at a 5.625% coupon and PNC8 at 6.125%.\n\nNet proceeds will fund general corporate purposes, including a concomitant tender offer on seven existing note series maturing between 2027 and 2032.\n\nThe hybrids are rated Baa3/BBB-, two notches below the company's Baa1/BBB+ (both negative outlook) senior ratings; the bonds will be listed on Euronext Paris with settlement on October 28.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Solid investor demand for €1.5B hybrid refi as Pernod Ricard manages its maturity wall via tender offer."},"keyFigures":{"dealValueUsd":"€1.5 billion","customDimensions":{"yield_pnc8":"6.25%","coupon_pnc8":"6.125%","yield_pnc5_25":"5.75%","coupon_pnc5_25":"5.625%","settlement_date":"2026-10-28","hybrid_rating_sp":"BBB-","senior_rating_sp":"BBB+ (negative outlook)","tranche_pnc8_size":750000000,"hybrid_rating_moodys":"Baa3","senior_rating_moodys":"Baa1 (negative outlook)","tranche_pnc5_25_size":750000000}},"namedEntities":{"people":[{"name":"Joelle Ferran","role":"Global VP, Investor Relations & Financial Communication"},{"name":"Edward Mayle","role":"Investor Relations Director"},{"name":"Ines Lo Franco","role":"Investor Relations Manager"},{"name":"Emmanuel Vouin","role":"Head of External Engagement"}],"products":["Absolut","Ricard","Ballantine's","Chivas Regal","Royal Salute","The Glenlivet","Jameson","Martell","Havana Club","Beefeater","Malibu","Mumm","Perrier-Jouët"],"companies":[{"name":"Pernod Ricard","ticker":"RI","relationship":"issuer/filer"},{"name":"Moody's","relationship":"rating agency"},{"name":"Standard & Poor's","relationship":"rating agency"},{"name":"Euronext Paris","relationship":"listing venue"}],"dollarAmounts":[{"amount":"€1.5 billion","context":"aggregate hybrid notes issuance across dual tranche PNC5.25 and PNC8"},{"amount":"€9,404 million","context":"Pernod Ricard consolidated sales in FY26"}]},"materialImpact":{"score":2,"reasoning":"Routine hybrid bond issuance of €1.5B with dual-tranche pricing, largely to fund a concurrent liability-management tender on seven existing note series. Favorable investor reception is mildly positive but not market-moving."},"tickerRelevance":{"others":[{"ticker":"RI","relevance":"listed ticker of the issuer on Euronext Paris"}],"primary":"PERP"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large-cap European (CAC 40)","creditAngle":"negative outlook on senior ratings is the notable angle","eventGravity":"routine hybrid bond issuance / liability management"}},"event_type":"debt_offering","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Pernod Ricard completed a €1.5 billion euro-denominated deeply subordinated hybrid notes issuance across two perpetual tranches: PNC5.25 at a 5.625% coupon and PNC8 at 6.125%.\n\nNet proceeds will fund general corporate purposes, including a concomitant tender offer on seven existing note series maturing between 2027 and 2032.\n\nThe hybrids are rated Baa3/BBB-, two notches below the company's Baa1/BBB+ (both negative outlook) senior ratings; the bonds will be listed on Euronext Paris with settlement on October 28.","key_figures":{"dealValueUsd":"€1.5 billion","customDimensions":{"yield_pnc8":"6.25%","coupon_pnc8":"6.125%","yield_pnc5_25":"5.75%","coupon_pnc5_25":"5.625%","settlement_date":"2026-10-28","hybrid_rating_sp":"BBB-","senior_rating_sp":"BBB+ (negative outlook)","tranche_pnc8_size":750000000,"hybrid_rating_moodys":"Baa3","senior_rating_moodys":"Baa1 (negative outlook)","tranche_pnc5_25_size":750000000}},"named_entities":{"people":[{"name":"Joelle Ferran","role":"Global VP, Investor Relations & Financial Communication"},{"name":"Edward Mayle","role":"Investor Relations Director"},{"name":"Ines Lo Franco","role":"Investor Relations Manager"},{"name":"Emmanuel Vouin","role":"Head of External Engagement"}],"products":["Absolut","Ricard","Ballantine's","Chivas Regal","Royal Salute","The Glenlivet","Jameson","Martell","Havana Club","Beefeater","Malibu","Mumm","Perrier-Jouët"],"companies":[{"name":"Pernod Ricard","ticker":"RI","relationship":"issuer/filer"},{"name":"Moody's","relationship":"rating agency"},{"name":"Standard & Poor's","relationship":"rating agency"},{"name":"Euronext Paris","relationship":"listing venue"}],"dollarAmounts":[{"amount":"€1.5 billion","context":"aggregate hybrid notes issuance across dual tranche PNC5.25 and PNC8"},{"amount":"€9,404 million","context":"Pernod Ricard consolidated sales in FY26"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-22T07:17:08.308Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"large-cap European (CAC 40)","creditAngle":"negative outlook on senior ratings is the notable angle","eventGravity":"routine hybrid bond issuance / liability management"}},"durationMs":8121,"modelName":"glm-5.3-flashx"}}