April 29, 2024 12:39 GMT
Pernod Ricard (RIFP; Baa1, BBB+, BBB+; S) FINAL TERMS
CONSUMER CYCLICALS
- €700m 6.5Y +70 (FV+65), 5bp NIC, books>2.4x
- €800m 10Y +92 (FV +86), 6bp NIC, books>2.4x
- Pricing in line with Carlsberg - we think secondary can move there as well.
- Sizeable gross supply at €1.5b, books look weak
45 words