Danone Raises €1.5bn Through Three-Tranche Bond Offering

Danone’s offering consists of three €500m tranches. The first comprises floating-rate notes maturing in 18 months and linked to three-month Euribor plus 0.30 percentage points. The other two are fixed-rate securities, with annual coupons of 4.0910% for five-year notes and 4.4180% for nine-year notes.

The instruments are due to settle on September 28th 2026 and are scheduled to be listed and traded on Euronext Paris. Danone said the transaction is intended to support liquidity, funding flexibility and a longer weighted-average maturity for its debt.

The order book drew investors from a broad range of institutions, according to the company’s disclosures. Danone’s credit ratings include BBB+ with a stable outlook from S&P Global Ratings and Baa1 with a stable outlook from Moody’s.

The financing forms part of Danone’s treasury and balance-sheet management and is aligned with its “Renew Danone” strategy. That framework covers portfolio optimisation, operational discipline and sustainable value creation across Essential Dairy & Plant-Based, Waters and Specialised Nutrition.

Danone has also been expanding its functional nutrition activities, including through its acquisition of functional food brand Huel. The company continues to manage costs across its global dairy supply network while operating in dairy, plant-based products, water and specialised nutrition.