We advised the issuer and guarantor on the investment-grade offering

Davis Polk advised Diageo Investment Corporation and Diageo plc in connection with an SEC-registered shelf takedown of $750 million aggregate principal amount of 5.125% fixed-rate notes due 2030 and $750 million aggregate principal amount of 5.625% fixed-rate notes due 2035, in each case issued by Diageo Investment Corporation and 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 and Buchanan’s whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness. Diageo products are sold in more than 180 countries around the world. Diageo plc is listed on both the London Stock Exchange (under the symbol “DGE”) and the New York Stock Exchange (under the symbol “DEO”).

The Davis Polk corporate team included partner Connie I. Milonakis and associates Gianna Ceophas and Annie Dulka. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Sarah E. Kim and associate Nausherwan Ahmed Aamir provided 1940 Act advice. Members of the Davis Polk team are based in the London and New York offices.

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