Rémy places €80m bond with insurance group

French drinks group Rémy Cointreau has placed an €80 million bond with a European insurance company.

Rémy Cointreau was placed an €80 million with a leading European insurance company

The group, which produces Rémy Martin Cognac and Bruichladdich Scotch, said the bonds, which carry an interest rate of 2.945% and carry a maturity of 10 years, are “consistent” with its commitment to backing its “long-term ageing assets with adequate financial resources”.

“The favourable funding terms of this facility reflect the quality and financial strength of Rémy Cointreau,” the group said in a statement.

The new bond follows the redemption of an existing placement which will mature on 10 June.

In January this year, Rémy Cointreau revealed that sales of Bruichladdich had continued to double, contributing to a “solid performance” for the third financial quarter.

Just a few weeks later, the group’s new CEO Valérie Chapoulaud-Floquet instructed a board reshuffle as she implemented an “ambitious and bold” strategy.