Free Trial

Pernod Ricard (RIFP; Baa1, BBB+, BBB+; S) IPT 6.5Y/10Y

CONSUMER CYCLICALS

6.5Y FV +65 (IPT+100) & 10Y +86 (+120) - coming-in line

  • Guidance taking its time, secondary is +2-3 wider, milder than Danone's moves on Friday (which have reversed a tad today).
  • UoP is left broad & unlike Danone it didn't have significant maturities this year (single €650m line) - 2-part supply with size left open (could be up to €1b) - i.e. seems opportunistic & will leave sizeable gross supply addition for now.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.