Diageo Capital $2 billion notes offering
The investment-grade notes are due 2025, 2027 and 2033
Davis Polk advised the joint book-running managers on an SEC-registered offering by Diageo Capital plc of $500 million aggregate principal amount of 5.200% fixed-rate notes due 2025, $750 million aggregate principal amount of 5.300% fixed-rate notes due 2027 and $750 million aggregate principal amount of 5.500% fixed-rate notes due 2033, in each case guaranteed by Diageo plc.
Headquartered in London, Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits and beer. These brands include Johnnie Walker, Crown Royal, J&B, Buchanan’s and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness. Diageo is a global company, with products sold in more than 180 countries around the world. Diageo plc is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).
The Davis Polk corporate team included partner Leo Borchardt and associates Alexander W. Simmonds and Robin Veidt. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice and European counsel John Taylor provided English law advice. All members of the Davis Polk team are based in the London office.