L'Oréal to Sell 3 Billion Euros of Bonds to Help Finance Kering Beauté Buy [Yahoo! Finance]
KERING SA UNSP/ADR (PPRUY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
The offering is composed of three parts: an 850-million-euro two-year floating-rate bond, a 1-billion-euro five-year fixed-rate bond and a 1.15-billion-euro long 10-year fixed-rate bond. More from WWD Hermès Names New Head of Perfume and Beauty EXCLUSIVE: JOD, a Natural Skin Care Brand With Stick Format, Is Fundraising The Latest Beauty Executive Moves at Beiersdorf, Sol de Janeiro and More The world's largest beauty company said that net proceeds from the notes' issuance will be used for general corporate purposes, including to finance a part of the Kering Beauté acquisition. The notes will be admitted to trading on Euronext Paris starting from the deal's settlement date, which is set for Nov. 19. As previously announced, L'Oréal and Kering on Oct. 19 unveiled a multibillion-euro strategic partnership. The deal includes L'Oréal acquiring The House of Creed and entering into 50-year exclusive licenses to develop and sell fragrances and beauty products for Kering's bra
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