Success of Kering’s €405 Million Bond Tender Offer

PARIS--()--Regulatory News:

Kering (Paris:KER) announces the success of its offer to redeem four bond issues maturing in 2019, 2020, 2021 and 2022 at a par value of €405 million (excluding accrued interest) launched on 26th March 2018. The amounts redeemed break down as follows:

  • €200 million (par value) of a first issue of €500 million worth of 3.125% coupon bonds maturing in April 2019 was redeemed at par, leaving €300 million in par value outstanding following settlement and delivery;
  • €100 million (par value) of a first issue of €500 million worth of 1.375% coupon bonds maturing in October 2021 was redeemed at par, leaving €400 million in par value outstanding following settlement and delivery; and
  • €105.2 million (par value) of a first issue of €500 million worth of 0.875% coupon bonds maturing in March 2022 was redeemed at par, leaving €394.8 million in par value outstanding following settlement and delivery.

The bonds maturing in 2019, 2020, 2021 and 2022 are traded on the Luxembourg stock exchange.

The Kering group’s long-term debt is rated BBB+ with a positive outlook by Standard & Poor’s.

These transactions are in keeping with the Group’s active liquidity management and debt optimisation strategy.

About Kering

A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Saint Laurent, Bottega Veneta, 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 €15.5 billion in 2017 and had more than 44,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

www.kering.com
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup

Contacts

Kering
Press
Emilie Gargatte, +33 (0)1 45 64 61 20
emilie.gargatte@kering.com
or
Astrid Wernert, +33 (0)1 45 64 61 57
astrid.wernert@kering.com
or
Analysts/investors
Claire Roblet, +33 (0)1 45 64 61 49
claire.roblet@kering.com
or
Laura Levy, +33 (0)1 45 64 60 45
laura.levy@kering.com

Contacts

Kering
Press
Emilie Gargatte, +33 (0)1 45 64 61 20
emilie.gargatte@kering.com
or
Astrid Wernert, +33 (0)1 45 64 61 57
astrid.wernert@kering.com
or
Analysts/investors
Claire Roblet, +33 (0)1 45 64 61 49
claire.roblet@kering.com
or
Laura Levy, +33 (0)1 45 64 60 45
laura.levy@kering.com