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PPR bond issue in excellent conditions
23 Jun '05
1 min read
Largest luxury goods retailer PPR has successfully completed the sale of a EUR 300 million bond issue maturing January 29, 2013.
Strong demand - representing 1.5 times the launch amount -- allowed the Group to place the issue in sparkling status. PPR benefiting from particularly favorable interest rates, the coupon was set at 4%.
This strong demand reflects investor confidence in PPR, as the Group continues to strengthen its capital structure by extending the maturity of its debt and diversifying its sources of funding.
France based PPR (formerly Pinault-Printemps-Redoute) is a global player in Retail and Luxury Goods, with 82,000 employees in 65 countries. Through its Retail businesses Printemps, Conforama, Redcats, Fnac and CFAO, and the Luxury brands of Gucci Group (Gucci, Yves Saint Laurent, Bottega Veneta, YSL Beauté, Boucheron, Sergio Rossi, Bédat & Co, Alexander McQueen, Stella McCartney and Balenciaga), PPR generated sales of EUR 17.8 billion in 2004. (Including Rexel, which was divested at the end of 2004, the Group's consolidated sales for 2004 amounted to EUR 24.2 billion.) PPR shares are listed on Euronext Paris (No. 121485, PRTP.PA, PPFP).
Strong demand - representing 1.5 times the launch amount -- allowed the Group to place the issue in sparkling status. PPR benefiting from particularly favorable interest rates, the coupon was set at 4%.
This strong demand reflects investor confidence in PPR, as the Group continues to strengthen its capital structure by extending the maturity of its debt and diversifying its sources of funding.
France based PPR (formerly Pinault-Printemps-Redoute) is a global player in Retail and Luxury Goods, with 82,000 employees in 65 countries. Through its Retail businesses Printemps, Conforama, Redcats, Fnac and CFAO, and the Luxury brands of Gucci Group (Gucci, Yves Saint Laurent, Bottega Veneta, YSL Beauté, Boucheron, Sergio Rossi, Bédat & Co, Alexander McQueen, Stella McCartney and Balenciaga), PPR generated sales of EUR 17.8 billion in 2004. (Including Rexel, which was divested at the end of 2004, the Group's consolidated sales for 2004 amounted to EUR 24.2 billion.) PPR shares are listed on Euronext Paris (No. 121485, PRTP.PA, PPFP).
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