PARIS--(BUSINESS WIRE)--Regulatory News:
Kering (Paris:KER) has issued a €300m, 1.50% fixed-rate bond maturing in 10 years.
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 “BBB” with stable outlook by Standard & Poor's.
The placement is managed Société Générale CIB, Crédit Agricole CIB, Mizuho, Mitsubishi UFJ Financial Group, Natixis, Santander.
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.
The Group generated revenue of €12.385 billion in 2016 and had more than 40,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).