PPR bond issue oversubscribed - leatherbiz: Leading news site for the Leatherbiz

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PPR bond issue oversubscribed

23/03/2004

Pinault-Printemps-Redoute (PPR) has successfully completed the sale of its Eur600 million bond issue, the company said Monday (March 22 2004).

 

PPR said the bonds, which mature March 29 2011, were oversubscribed twofold enabling the group to increase the issue size from Eur500 million to Eur600 million.

 

The company also announced it is offering the purchase of outstanding common shares in Gucci Group N.V. for $85.52 per share in cash. PPR currently owns 67.58% of the division’s outstanding shares.

 



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