In Trends

Kering announces bond issue worth EUR 1.2 billion


French luxury group Kering has issued a dual-tranche bond for a total of EUR 1.2 billion, consisting of a EUR 600 million tranche with a 3 year maturity and a 0.25% coupon and of a EUR 600 million tranche with a 8 year maturity and a 0.75% coupon.

SEE ALSO : Kering participates in Shanghai New Product Launch Festival 2020

This issue, in line with the group’s active liquidity management, enables Kering to diversify its sources of financing and to enhance its funding flexibility through refinancing of existing debt and extension of their average maturity.

The great success of this issue with investors confirms the confidence of the market in the creditworthiness of the group. Kering’s long-term debt is rated “A-” with a stable outlook by Standard & Poor’s.

SEE ALSO : Kering announces 2020 first quarter financial report

The placement is managed Crédit Agricole CIB, HSBC, BNP Paribas, Natixis, Société Générale, UniCredit and Mitsubishi UFG.

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