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 per cent coupon and of a EUR 600 million tranche with an 8 year maturity and a 0.75 per cent 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.
