Diageo leaps in for a triple tipple

Alcoholic cocktail with Bacardi rum, Campari vermouth from Adobe 230x150
By Mike Turner
24 Mar 2020

Diageo, the UK distiller and brewer, poured a triple tranche trade into Tuesday's busy primary corporate bond market, as syndicate bankers said the high grade companies on screen were the some of the best names to raise spirits.

Diageo, rated A3/A-, opened books on seven and 12 year euro trades and a nine year sterling bond. 

The seven year came with initial price thoughts of 215bp over mid-swaps, the 12 year at 255bp and the sterling at Gilts plus 260bp.

The issuer joined other highly rated companies in ...

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