Pernod dilutes debt burden with disposals, rights issue
Pernod Ricard, the French distiller, announced a Eu1bn rights issue and a $575m asset sale today (Wednesday) as part of an attempt to reduce the Eu11.5bn-equivalent syndicated loan it signed last year. Pernod will use the proceeds to pay down its debt and reduce its leverage ratio, which will lead to the margins on its facility being decreased.
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