These are scheduled to be issued on 5 December and will consist of two series: a 6.2-year, €500 million tranche of 4.125% notes due in 2030; and a 10.2-year €500 million tranche of 4.500% notes due in 2034.
According to the coffee firm, the funds raised through this bond issuance will be utilised for general corporate purposes and to refinance existing debt facilities.
These notes will be senior unsecured obligations featuring investment grade terms and will be issued by JDE Peet’s N.V. under its €5 billion debt issuance programme. It is anticipated that they will be listed on the EuroMTF market of the Luxembourg Stock Exchange.
In August, JDE Peet's announced a 3.5% increase in sales in the first half of its financial year, driven by a 6.8% increase in price and a volume/mix that was down 3.3%. Organic gross profit was up 0.9%.
It said that during the period it exhibited a 'resilient' financial performance within a global market undergoing adjustments in the post-pandemic era and grappling with ongoing inflation.
Its mid-single-digit top-line growth was attributed to the success of its premium product portfolio, the acceleration of e-commerce, and strong market performance in the United States and emerging economies.
"We continue to be guided by our renewed strategic framework to become more global, more digital and more sustainable," Fabien Simon, CEO of JDE Peet’s, said at the time. "We are now very pleased to witness the in-market outperformance of JDE Peet's globally from the disciplined execution of our strategic priorities."
For the full year, the company foresees organic sales growth at the high end of its consistent medium-term range of 3% to 5%, with no changes. Adjusted EBIT is expected to range between a low single-digit organic increase and a low single-digit organic decline, reflecting an updated forecast.