April 28, 2020 / 6:49 AM / 2 months ago

Spirits maker Diageo to raise $2.5 billion from debt offering

FILE PHOTO: A man walks past barrels outside the Diageo facility near Glasgow, Scotland August 26, 2010. REUTERS/David Moir

(Reuters) - Diageo (DGE.L), the world’s largest spirits maker, launched a $2.5 billion bond offering on Tuesday, weeks after suspending its share buyback programme in response to the coronavirus crisis.

The Johnnie Walker whisky maker said the offering will be in three tranches: $750 million at a fixed rate of 1.375% due 2025, $1 billion at 2% due 2030 and another $750 million at 2.125% due 2032.

It plans to use the proceeds for general corporate purposes.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Saumyadeb Chakrabarty

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