Company Announcements

Pernod Ricard Successfully Completes Its Inaugural Sustainability-linked Bond Issuance for EUR750m

The deal represents Pernod Ricard’s inaugural sustainability-linked bond

PARIS--(BUSINESS WIRE)--Apr. 1, 2022-- Regulatory News:

Press release - Paris, 1 April 2022

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This document does not constitute an offer, or an invitation to apply for, or an offer or invitation to purchase or subscribe for any securities either in the United States or in any other jurisdiction. Securities may not be offered, sold or delivered within the United States, or for the account or benefit of, U.S. persons (as defined in Regulation S under U.S. Securities Act of 1933) unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended. Pernod Ricard does not intend to register the offer detailed in the press release, in whole or in part, in the United States, and nor does it intend to carry out any public offer in the United States.

Amount (EUR)

Maturity

Settlement

Coupon

Yield

Re-offer spread

750,000,000

7 April 2029

7 April 2022

1.375%

1.563%

45bps

Pernod Ricard (Paris:RI), the long-term senior debt of which is rated Baa1 (stable outlook) by Moody’s and BBB+ (stable outlook) by Standard & Poor’s, has today set the terms of its new Euro-denominated bond issuance for an aggregate amount of EUR750 million for 7 years.

The deal represents Pernod Ricard’s inaugural sustainability-linked bond which is linked to two environmental commitments: to reduce the Group’s absolute greenhouse gas emissions (Scope 1&2) and to decrease the water consumption per unit at distilleries. This transaction illustrates Pernod Ricard’s ongoing integration of sustainability actions into its daily operations and financing strategy, in-line with the Group’s Sustainability & Responsibility (S&R) Roadmap.

Favorable market conditions and a very positive reception from investors enabled Pernod Ricard to price the issuance at a coupon of 1.375%.

The publication of a dedicated Sustainability-Linked Framework highlights the Group’s ambition to become an active player of sustainable finance. This Framework is aligned with ICMA’s 2020 Sustainability-Linked Bond Principles (SLBP) and LMA’s 2021 Sustainability-Linked Loan Principles (SLLP) and received a Second Party Opinion from Sustainalytics.

Hélène de Tissot, EVP Finance, IT and Operations, declared: “We are very proud of this inaugural sustainability-linked bond issuance, further emphasizing Pernod Ricard’s ESG strategy and ambition. The transaction was very well received, thus demonstrating the markets’ confidence in the Company’s financial strength, strategy and ability to deliver on its ESG targets. This first sustainability-linked bond in the Wine and Spirits sector highlights the strong interest among investors for sustainable finance.”

Vanessa Wright, Chief Sustainability Officer concluded “I am delighted by the success of this issuance, linking the cost of financing to concrete, sustainable targetsand our Good Times from a Good Place 2030 strategy. This financial transaction is an amazing opportunity to emphasize that our ESG ambition is at the heart of our strategy.”

The Sustainability-Linked Financing Framework and the Second-Party Opinion are available at : https://www.pernod-ricard.com/en/investors/share-debt-information#debt-information-430

The net proceeds of this issuance will be used for general corporate purposes of Pernod Ricard.

Placement was made across qualified investors.

An application will be made for the bonds to be admitted to trading on Euronext Paris.

The Bonds are expected to be rated Baa1 by Moody’s and BBB+ by Standard & Poor’s.

About Pernod Ricard

Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €8,824 million in fiscal year FY21. The Group, which owns 16 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolios in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, New Zealand Wines, Campo Viejo, Mumm Sparkling and Kenwood wines. Pernod Ricard’s strategy focuses on investing in long-term and sustainable growth for all its stakeholders, remaining true to its founding values: entrepreneurial spirit, mutual trust, and strong sense of ethics. The Group’s decentralised organisation empowers its 18,500 employees to be on-the-ground ambassadors of its vision of “Créateurs de Convivialité”. Pernod Ricard 2030 Sustainability and Responsibility roadmap “Good Times from a Good Place” is integrated into all its activities from grain to glass, and Pernod Ricard is recognised as a UN Global Compact LEAD participant for its contribution to the United Nations Sustainable Development Goals (SDGs). Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.

Florence Tresarrieu / Global SVP Investor Relations and Treasury +33 (0) 1 70 93 17 03
Charly Montet / Investor Relations Manager +33 (0) 1 70 93 17 13
Emmanuel Vouin / Head of External Engagement +33 (0) 1 70 93 16 34

Source: Pernod Ricard