Diageo (DEO) fills a pension deficit by transferring 2.5 million barrels of aging whisky into its pension fund.
The whisky serves as collateral.
This Wall Street Journal article gives some more background on it.
Apparently, it is enough booze to fill 180 Olympic-size swimming pools or roughly 30% of Diageo's whisky stock.
For the companies with extremely large pension obligations this may yet become an even bigger headache (hangover?) not too far down the road.
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