Compagnie Financière Richemont SA said March 15 that it is offering €3.75 billion in fixed-income securities, the Swiss company's first issuance for European bond investors, to finance its purchase of Italian online apparel retailer YOOX Net-A-Porter Group SpA.
The notes come in three tranches: €1.5 billion due 2026 at 1.0% annual interest, €1.25 billion due 2030 at 1.5% annual interest and €1.0 billion due 2038 at 2.0% annual interest.
The luxury goods retailer, currently assigned a "stable" outlook by S&P Global Ratings, expects analysts to give the notes a similar rating.
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