LONDON--Diageo PLC (DGE.LN) has launched and priced 0.5 billion euros ($0.7 billion) fixed rate Euro denominated bonds due in September 2024 under its European Debt Issuance Program, the maker of Johnnie Walker whisky and Smirnoff vodka said Tuesday.

Simultaneously with the new issuance, a EUR0.5 billion reopening of the 1.125% bonds due in May 2019 has also taken place, Diageo said.

The issuer of the bonds will be Diageo Finance PLC, with payment of principal and interest fully guaranteed by Diageo PLC.

The issue consists of EUR0.5 billion bonds due May 2019 with a coupon of 1.125% and EUR0.5 billion bonds due September 2024 with a coupon of 1.750%, and proceeds from this issuance will be used for general corporate purposes, the company said.

Banco Santander, S.A., Bank of America Merrill Lynch, Barclays Bank PLC, Goldman Sachs International, J.P. Morgan Securities PLC, Standard Chartered Bank and UBS AG, London Branch are joint book-running managers.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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