Kering

Capital/Financing Update • Mar 20, 2015

Press release 20.03.2015

Kering: €500m bond issue

Kering has issued a €500m, 0,875% fixed-rate bond maturing in 7 years.

This issue, in line with the Group's active liquidity management, enables Kering 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. Kering's long-term debt is rated "BBB" with stable outlook by Standard & Poor's.

The placement is managed by Banca IMI, CA-CIB, Natixis, Mediobanca, Bank of Tokyo-UFJ and SG-CIB.

About Kering

A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Sergio Rossi, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Ulysse Nardin, Puma, Volcom, Cobra, Electric and Tretorn. By 'empowering imagination' in the fullest sense, Kering encourages its brands to reach their potential, in the most sustainable manner. Present in more than 120 countries, the Group generated revenues of €10 billion in 2014 and had more than 37,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Press Contacts

Hélène Saint-Raymond	+33 (0)1 45 64 61 20	helene.saint-raymond@kering.com
Floriane Geroudet	+33 (0)1 45 64 66 00	floriane.geroudet@kering.com
Analysts/Investors
Claire Roblet	+ 33 (0)1 45 64 61 49	claire.roblet@kering.com
Edouard Crowley	+ 33 (0)1 45 64 63 28	edouard.crowley@kering.com

Website : www.kering.com

"This press release is a free translation of the French original press release. The original French version of this press release is available on our website at www.kering.com "