French luxury group Kering has issued bonds worth €1.2 billion in total. The bond issue is split in two tranches: a first tranche worth €600 million maturing in three years with a 0.25 per cent coupon, and a second one, also worth €600 million, maturing in eight years with a 0.75 per cent coupon, as indicated by Kering in a press release.

Kering, which owns among others Gucci, Saint Laurent, Balenciaga and Bottega Veneta, said the operation contributes to the diversification of the group’s financing resources and to an increase in its financial flexibility, by enabling the group to refinance its existing debt and extend the maturity date of its funding sources.

Kering underlined that the issue was received very favorably by bond investors, confirming the market’s confidence in the group's creditworthiness. In 2019, Kering had generated revenues of €15.9 billion.