A blend of whiskey and tequila
Flagship tequila brand sells US$500 million of bonds to acquire Northern Ireland's Bushmills
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Mexico City
MIXING tequila and Irish whiskey appears to go down well with bondholders.
JB & Cia, the 250-year-old Mexican owner of Jose Cuervo, sold US$500 million of bonds this week to finance its acquisition of Northern Ireland's Bushmills from London-based beverage conglomerate Diageo Plc. The bonds due in 2025 were sold to yield 3.87 per cent - well below the average 4.31 per cent for similarly-rated emerging-market bonds, according to data compiled by Bloomberg.
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