Pernod prays for plenty of liquidity

The wait for Pernod Ricard’s loan is over. The French distiller this week won the auction for Vin & Sprit, the Swedish maker of Absolut vodka, with the help of a Eu12bn facility underwritten by six banks. But how will the market react to such a big deal, which will be in crossover territory and include almost Eu6bn of new money? Find out on Friday.