Kering SA (KERFP)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	COND	PRCD	KERFP	Kering SA	€1,500		2	EMEA	Feb 20, 2023

Tranche #1Kering SA

currency

EUR

size (m)

750.000

maturity

Feb 27, 2029

type

Fixed

tenor

6.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

fitch

size description

re-open/tap

ipt

MS+45-50

ipt-pxd

guidance

MS+25-30

spread

coupon

3.25%

spread set

price

99.56100

yield

3.332%

book size (m)

1,250

peak book (m)

x-covered

1.67

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,250

peak book (m)

x-covered

1.67

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Kering SA

currency

EUR

size (m)

750.000

maturity

Feb 27, 2033

type

Fixed

tenor

10.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

fitch

size description

re-open/tap

ipt

MS+70 a

ipt-pxd

guidance

MS+45-50

spread

coupon

3.375%

spread set

price

99.28300

yield

3.461%

book size (m)

1,300

peak book (m)

x-covered

1.73

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,300

peak book (m)

x-covered

1.73

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

6 yr: Book size: 1250; Registration: Reg S Only; Comments: EUR750m 6yr part of 2-tr bmk snr unsec RegS. A. BNPP/HSBC(B&D)/IMI/JPM/MUFG/NatWest. IPTs 6yr MS+45/+50. Guidance MS+25/+30. Launch MS+25 for 750m. Final books c.1.25bn (peak c.1.5bn). HR 105% vs 0.25% 02/29, 96% vs 2.3% 02/33, DBR 0.25 02/15/29 +87.9bps (87.88 / 2.453%) DBR 2.3 02/15/33 +100.3bps (98.61 / 2.458%). FTT 4.30pm. Par Call: 3m. Cleanup Call: 75%. MWC: B+15.CoC: Yes. LEI: 549300VGEJKB7SVUZR78; 10 yr: Book size: 1300; Registration: Reg S Only; Comments: EUR750m 10yr part of 2-tr bmk snr unsec RegS. A. BNPP/HSBC(B&D)/IMI/JPM/MUFG/NatWest. IPTs 10yr MS+70 area. Guidance MS+45/+50. Launch MS+45 for 750m. Final books c.1.3bn (peak c.1.4bn). HR 105% vs 0.25% 02/29, 96% vs 2.3% 02/33, DBR 0.25 02/15/29 +87.9bps (87.88 / 2.453%) DBR 2.3 02/15/33 +100.3bps (98.61 / 2.458%). FTT 4.30pm. Par Call: 3m. Cleanup Call: 75%. MWC: B+15.CoC: Yes. LEI: 549300VGEJKB7SVUZR78;

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Kering SA (KERFP)

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