Kering said the issue is in line with the Group’s active liquidity management, and enables the Group to diversify its sources of financing and to enhance its funding flexibility through refinancing of existing debt and extension of their average maturity. “The great success of this issue with investors confirms the confidence of the market in the creditworthiness of the Group”, said Kering, whose long-term debt is rated “A-” with a stable outlook by Standard & Poor’s.

The placement is managed by Crédit Agricole CIB, HSBC, BNP Paribas, Natixis, Société Générale, UniCredit and Mitsubishi UFG.