Kering: E1.2bn bond issue
(CercleFinance.com) - Kering has issued bonds totalling 1.
2 billion euros.
The bonds consist of a tranche of 600 million euros maturing in three years, bearing a coupon of 0.25% and a tranche of 600 million euros, maturing in 8 years with a coupon of 0.75%.
"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 group said.
The group has a long-term debt rating of "A-" at Standard & Poor's, with a stable outlook.
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