Kering prints with negative NIP despite dropouts

Jewellery 230x150
By Ross Lancaster
28 Apr 2016

Kering, the French luxury goods company, issued a €500m no-grow transaction on Thursday that saw some orders drop out but still came with a negative new issue premium.

The triple-B rated issuer, which has brought bonds to the euro market about once a year since 2013, announced that it would issue a €500m 10 year no-grow transaction on Thursday.

Global co-ordinator BNP Paribas and bookrunners Commerzbank, Deutsche Bank, ING, Royal Bank ...

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