Dual-tranche bond issue for a total amount of 1.2 billion euros
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.
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.
The placement is managed Crédit Agricole CIB, HSBC, BNP Paribas, Natixis, Société Générale, UniCredit and Mitsubishi UFG.
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2019, Kering had nearly 38,000 employees and revenue of