Rémy Cointreau Announces Its First Hybrid Issuance for an Amount of €250 Million

PARIS--(BUSINESS WIRE)--Regulatory News:

Rémy Cointreau (Paris:RCO) has successfully priced its first issuance of undated deeply subordinated fixed rate bonds for a nominal amount of €250 million with a fixed rate of 6.75%. Rémy Cointreau will have, at its sole discretion, a first option to redeem the bonds early, from July 7, 2031 and ending on October 7, 2031.

The net proceeds of the issuance will be used for the general corporate purposes, including the refinancing of existing debt.

Based on the accounting principles applicable as of today, Rémy Cointreau will account for the bonds entirely as equity. In addition, the bonds will receive 50% equity credit from Moody’s. As such, the issuance will enable the Group to accelerate its deleveraging trajectory and enhance its financial flexibility, ahead of the first expected benefits of its transformation plan materialising, while helping to further strengthen its credit profile and investment-grade rating.

Due to the quality of demand, the order book reached more than €695 million, representing 2.7 times oversubscription.

Settlement and delivery of the bonds is expected to occur on October 7, 2026. The bonds are expected to be admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange as from the Issue Date.

BNP Paribas and Société Générale were appointed by the Issuer as Global Coordinators and Joint Bookrunners for the transaction. Crédit Agricole CIB and HSBC acted as Joint Bookrunners. Rothschild & Co acted as financial adviser to Rémy Cointreau, Addleshaw Goddard (Europe) LLP as legal counsel to Rémy Cointreau, and Allen Overy Shearman Sterling LLP as legal counsel to the Joint Bookrunners.

About Rémy Cointreau

All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group’s portfolio includes 14 singular brands, such as the Rémy Martin and LOUIS XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its 1,783 employees and on its distribution subsidiaries established in the Group’s strategic markets. Rémy Cointreau is listed on Euronext Paris.

Disclaimer

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any bonds in any jurisdiction. No action has been undertaken or will be undertaken to make available any bonds to any retail investor in the European Economic Area. This announcement is made at the pricing stage; completion of the issuance of the bonds remains subject to settlement and delivery on the Issue Date. This press release is not an offer for sale within the United States of any security of Rémy Cointreau. Release, publication or distribution of this press release is forbidden in any jurisdiction where such release, publication or distribution would violate applicable laws or regulations. The bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the applicable registration requirements.