Kering needs little pick-up to snap up €500m
Kering, the French luxury goods group that changed its name from PPR in June, returned to the bond market today about two and a half months after its last issue, to sell a €500m no-grow deal.
That was the format of the day, as Transurban, the Australian toll roads group, issued a no-increase €500m seven year and Deutsche Post used that size for both its five and 10 year tranches.
Kering is rated BBB (stable) by Standard & Poor’s, a notch below Deutsche Post,
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