Pernod Successfully Cuts Debt

Dear Client:Pernod says it has risen over 1 billion euros by issuing new shares to cut down debt accumulated from Vin & Sprit. The company now has net debt of more than 12 billion euros, it said. In addition, it will dispose of 1 billion euros worth of non strategic assets In all, Pernod’s discounted rights issue, priced at 26.70 euros a share, was 2.3 times oversubscribed and generated gross proceeds of 1.036 billion euros.“Pernod Ricard is pleased by the