Diageo PLC (LSE:DGE) has gone to market with a $1.5 billion bond deal, splitting it evenly across two maturities.
The deal includes $750 million in 5.125% notes due in 2030 and another $750 million in 5.625% notes due in 2035. The bonds are being issued by Diageo Investment Corporation and come with a full guarantee from the LSE-listed alcohol beverages giant.
The transaction is expected to settle on 15 April 2025. Diageo plans to use the funds for general corporate purposes.
Barclays, BNP Paribas, BofA, Deutsche Bank, and Goldman Sachs are taking the lead on the offering. RBC and Standard Chartered are also on the deal in supporting roles.