Issue of bonds with redemption amounts indexed to the price of its own shares
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In order to optimise its financing profile, on May 16 2008 PPR issued EUR 400 millions of bonds, by way of private placement, the redemption amount of which is indexed to PPR’s share price. The bonds are issued in two equal tranches and mature in 4.5 and 5 years respectively. The entire issue is underwritten by Natixis.
This funding enables PPR to benefit from future increase in its share price since the redemption amounts payable on maturity of the bonds are reduced.
About PPR
PPR develops a portfolio of high-growth global brands. Through its Consumer and Luxury brands, PPR generated sales of EUR 19.8 billion in 2007. The Group is present in 90 countries with approximately 93,000 employees. PPR shares are listed on Euronext Paris (# 121485, PRTP.PA, PPFP).
To explore the universe of PPR brands go to www.ppr.com: Fnac, Redcats Group (La Redoute, Vertbaudet, Somewhere, Cyrillus, Daxon, Ellos, The Sportsman’s Guide, The Golf Warehouse and brands of the plus-size division), Conforama, CFAO, Puma and the Luxury brands of Gucci Group (Gucci, Bottega Veneta, Yves Saint Laurent, YSL Beauté, Balenciaga, Boucheron, Sergio Rossi, Alexander McQueen and Stella McCartney).
Contacts | |||
Press: | Charlotte Judet | +33 (0)1 45 64 65 06 | |
Analysts/Investors: | Alexandre de Brettes Emmanuelle Marque | +33 (01) 45 64 61 49 +33 (01) 45 64 63 28 | |
Website: |