JDE Peet’s prices inaugural EUR 2 billion multi-tranche bond issue

JDE Peet’s (EURONEXT: JDEP), the world’s largest pure-play coffee and tea group by revenue, announced that it has priced EUR 2 billion aggregate principal of bonds.

KEY POINTS:

• Debut bond offering represents another milestone in the evolution of JDE Peet’s, providing access to debt capital markets.
• EUR 2 billion priced across three tranches in the investment grade bond market with a weighted average coupon of 0.469% and a weighted average tenure of 7.6 years.
• Bond issuance will be used to refinance existing debt facilities at attractive interest rates and further balances the maturity profile.

The notes will be issued on June 16 and comprise the following series:

• 4.6-year EUR 750 million 0.000% Notes due 2026.
• 7.6-year EUR 750 million 0.500% Notes due 2029.
• 12-year EUR 500 million 1.125% Notes due 2033.

The financing package has a weighted average coupon of 0.469% and weighted average maturity of 7.6 years. The proceeds of the Notes will be used to refinance existing debt facilities and for general corporate purposes. The transaction generated over EUR 7.5 billion of demand.

“Our successful inaugural bond issuance is another major milestone in the continuous improvement of our capital structure and the evolution of JDE Peet’s. This transaction will reduce the overall cost of debt while further improving our maturity profile and diversifying JDE Peet’s financing sources,” said JDE Peet’s chief financial officer Scott Gray.