Kering: successfully completes bond issue
(CercleFinance.com) - On Wednesday, Kering successfully completed a convertible bond issue into existing Puma ordinary shares by a placement with professional investors alone.
Due to the high demand the par value of the issue was increased from 500 million euros to 550 million euros.
The bonds will be issued at a unit par value of 100,000 euros and will bear no interest (zero coupon).
The bonds will be offered at an issue price of equal to 108.75% of their par value, i.e. 108,750 euros, meaning a yield to maturity of -2.78%.
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