Diageo Plc, the world's leading premium drinks business, today launched and priced US dollar 1 billion of 5-year SEC registered global securities. Due 20 March 2008, the deal pays a coupon of 3.375% and has a reoffer price of 99.25 equivalent to a spread of 65bp over the 3% Treasury bond due 15th February 2008. The funds raised will be used primarily for general corporate purposes, including working capital and the repayment of outstanding commercial paper. Credit Suisse First Boston and Deutsche Bank Securities were the joint bookrunning lead managers of the offering.
‘This was a picture perfect transaction. The speed with which it was executed is a testament to the quality and defensive nature of the credit’ commented Hope Pascucci, Global Head of Syndicate at Deutsche Bank.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities either in the United States or any other jurisdiction, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration and qualification under the securities laws of any such jurisdiction. Any public offering of securities in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Diageo plc, Diageo Capital plc and Diageo Investment Corporation and previously declared effective.