With a blitz on the bond market, Prada scores a 130 million euro private placement. According to Radiocor, the operation was successfully closed today. The debt securities have a five-year maturity, a coupon of 2,75% and are intended for institutional investors.
Thanks to this placement, industry experts point out, the fashion group managed to obtain financing on international markets at very advantageous rates, taking advantage of the favorable window that had opened up in today's session. It should however be remembered that at the end of 2012, the fashion company had a positive net financial position of 312,6 million euro. A company document underlines that the private placement represents "affordable medium-term financing for the company" and that the proceeds will be used for the business of the company and its subsidiaries.
