Campari mulls bond to fund Lascelles buy
MILAN (Reuters) - Italy's drink group Campari (CPRI.MI) is considering issuing a bond for up to 500 million euros ($645 million) to fund the acquisition of Jamaican rum maker Lascelles deMercado & Co. LAS.JS.
"We are considering the opportunity to issue medium-long term debt, in line with our past experience, to fund the acquisition of Lascelles deMercado, as announced on September 3," a spokeswoman said in an email to Reuters.
The bond would be non-convertible, she said.
The Italian spirit maker, also owner of Glen Grant whisky, is buying the Jamaican rum maker from ailing Caribbean state-owned conglomerate CL Financial for $414.8 million.
The deal is Campari's third-biggest acquisition behind Skyy vodka and Wild Turkey bourbon.
MF newspaper reported on Wednesday that the bond could be placed to institutional investors by between the end of October and early November.
In 2009, Campari issued a 7-year unrated bond for 350 million euros.
(Reporting by Antonella Ciancio)
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