The facility will be used for general corporate purposes and for refinancing all outstanding amounts under the €2.978 billion, US$10.138 billion and €2.020 billion multi-currency facilities dated  March 27 2008.

Gilles Bogaert, Pernod’s managing director finance, said: “Following our most recent successful euro and US dollar bond issues, this new syndicated credit facility marks the final step in the refinancing of the debt related to the Vin&Sprit acquisition.

“Thanks to the commitment of a large pool of international banks and to the recent improvement in the bank debt market, we managed to implement this refinancing at attractive conditions and in a flexible manner through a multi-currency revolving facility. Pernod Ricard’s average debt maturity now exceeds seven years.”