Gruppo Campari places €600m bond in Europe

Gruppo Campari has placed an unrated bond issue of €600 million on the European market, the proceeds of which will be used for “general corporate purposes”.

Gruppo Campari CEO Bob Kunze-Concewitz said the group’s €600m Eurobond has been “very well received by both Italian and international high quality investors”

The Italian drinks group, owner of Wild Turkey Bourbon aperitif brand Aperol, initially intended to offer €500m, but increased this amount by an additional €100m due to “strong interest from investors”.

With a five-year maturity, the Eurobond pays an annual coupon of 2.75%.

This is Gruppo Campari’s third bond issue on the Euro market, further to its inaugural € 350m unrated seven-year Eurobond paying a fixed annual coupon of 5.375% issued in 2009 and expiring in 2016, and €400m unrated seven-year Eurobond paying a fixed annual coupon of 4.5% issued in 2012 and expiring in 2019.

“In a highly volatile debt capital market, the transaction has been very successful,” said Bob Kunze-Concewitz, CEO of Gruppo Campari.

“Once again, the bond issue was very well received by both Italian and international high quality investors, reflecting Gruppo Campari’s excellent business and financial profile as well as strong reputation in the capital markets.

“With this transaction, Gruppo Campari successfully returns to the unrated Eurobond market, at more favourable conditions after its debut issue completed in 2009 and the subsequent issue of 2012.”