With this loan, GBL says it wants to seize an “attractive” financing opportunity in the so-called “equity-linked” market, while still benefiting from a potential upside in Pernod Ricard’s share price.
In its press release, the holding company specified that the bonds would relate to two million Pernod Ricard shares, representing 1% of the spirits group’s share capital, and 10% of its own stake.
The securities will offer a three-year opportunity, at an annual rate of 2.125% payable annually.
The initial exchange rate is set at €245.39, which represents a premium of 32.5% over the reference share price.
Beyond the placement, GBL reaffirms its longstanding commitment to Pernod Ricard and continues to support its management and strategy.
On the Brussels Stock Exchange, GBL shares rose 0.4% after this offering, while Euronext Paris-listed Pernod Ricard shares lost about 0.5%.
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