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Richemont: €2 billion denominated bond

Published: 25th May 2020

Author: Stock Exchange News Service (SENS)

Bellevue, Switzerland (May 19, 2020) – Richemont announced that it has successfully placed a Euro denominated bond transaction with a volume of €2.0 billion.
       The transaction launched on 18 May with three tranches maturing in 2028, 2032 and 2040. The notes are priced with a coupon of 0.750% for the €0.50 billion 8 year maturity note, 1.125% for the €0.85 billion 12 year note and 1.625% for the €0.65 billion 20 year note.
       The notes are expected to receive a rating of A+. S&P Global Ratings recently affirmed the A+ rating of Compagnie Financière Richemont SA and revised the outlook to negative from stable.
       Net proceeds of the notes issued will be used for the Group's general corporate purposes.
       Richemont will make an application for the notes to be listed on the regulated market of the Luxembourg Stock Exchange.

Corporate calendar: The trading update for the first quarter ended 30 June 2020 will be published on Thursday 16 July 2020.

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