Diageo Capital plc $2.0 Billion Notes Offering

Davis Polk advised the joint book-running managers on an SEC-registered offering by Diageo Capital plc of $500 million aggregate principal amount of floating-rate notes due 2020, $500 million aggregate principal amount of 3.000% notes due 2020, $500 million aggregate principal amount of 3.500% notes due 2023 and $500 million aggregate principal amount of 3.875% notes due 2028, in each case guaranteed by Diageo plc.

Barclays, BofA Merrill Lynch, Goldman Sachs & Co. LLC, Santander Standard Chartered Bank and UBS Investment Bank acted as Joint Book-Running Managers on the offering.

Headquartered in London, Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits, beer and wine categories. 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. The company 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 (Picture) and associates Kate Darracott and Alexander W. Simmonds. Counsel Alon Gurfinkel and associate Veronica Orecharova provided tax advice. Counsel Jeanine P. McGuinness provided U.S. regulatory advice and European counsel John Taylor provided U.K. law advice.


Involved fees earner: Leo Borchardt – Davis Polk & Wardwell; Kate Darracott – Davis Polk & Wardwell; Alexander Simmonds – Davis Polk & Wardwell; John Taylor – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Veronica Orecharova – Davis Polk & Wardwell; Jeanine McGuinness – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Bank; Bank of America Merrill Lynch; Goldman, Sachs & Co.; Banco Santander Sa; Standard Chartered Bank; UBS Investment Bank;



Author: Ambrogio Visconti