Kering issues new 750 million euro bond

The French luxury group Kering SA has obtained fresh capital by means of a new bond. The bond, with a volume of 750 million euros, has a term of four and a half years and an interest rate of 3.125 percent, the parent company of fashion houses such as Gucci, Saint Laurent, Bottega Veneta and Balenciaga announced on Tuesday.

The issue took place as part of the group's “active liquidity management” and enables the group to “increase its financial flexibility,” Kering explained.

The company expressed satisfaction with the response to the placement: “The great success of this issue with bond investors underlines the market’s confidence in Kering’s credit rating,” it said in a statement.