COMPAGNIE FINANCIERE RICHEMONT SA - Richemont places 3.75 billion inaugural Euro denominated bond

Richemont places €3.75 billion inaugural Euro denominated bond

Compagnie Financière Richemont SA
Depositary Receipts issued by Richemont Securities SA
("Richemont Securities" or "Richemont")
(Incorporated in Switzerland)
Share code: CFR
ISIN: CH0045159024
Depositary Receipt Code: CFR


COMPANY ANNOUNCEMENT

15 MARCH 2018

RICHEMONT PLACES EUR 3.75 BILLION INAUGURAL EURO DENOMINATED BOND


Richemont, the Swiss luxury goods group, announces that it has successfully placed its inaugural Euro denominated bond transaction today with a volume of EUR 3.75 billion, following a roadshow with fixed income investors across Europe.

The transaction launched on 15 March with three tranches maturing in 2026, 2030 and 2038. The notes are priced with a coupon of 1.0% for the EUR 1.5bn 8 year maturity note, 1.5% for the EUR 1.25bn 12 year note and 2.0% for the EUR 1.0bn 20 year note.

The notes are expected to receive a rating of A+ (stable) in line with the rating assigned to Compagnie Financière Richemont SA by SandP Global Ratings.

The net proceeds of the issue of the notes will be used for the Group's general corporate purposes, which may include funding the acquisition of the ordinary shares of YOOX NET-A-PORTER GROUP S.p.A. (YNAP), in whole or in part, pursuant to the YNAP voluntary public tender offer.

Commenting on the bond transaction, Johann Rupert, Chairman of Richemont, said:

Quote

"This transaction positions Richemont with European bond investors for the first time. We are pleased at the support the inaugural bond issue has received from investors, which demonstrates confidence in the quality of our assets and strength of our balance sheet. In line with Richemont's prudent balance sheet policy, we have taken advantage of the low interest rate environment to raise long-term debt. We will use the funds to invest in the development of our businesses."

Unquote

Richemont will make an application for the notes to be listed on the regulated market of the Luxembourg Stock Exchange.
 
Corporate calendar
The Group's results for the current financial year will be announced on Friday, 18 May 2018, and its annual general meeting will be held on Monday, 10 September 2018, in Geneva.


About Richemont
Richemont owns a portfolio of leading international 'Maisons' which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef and Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange and Söhne, Baume and Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in YOOX NET-A-PORTER GROUP, a publicly traded company.

For the financial year ended 31 March 2017, Richemont reported sales of EUR 10 647 million, operating profit of EUR 1 764 million and profit for the year of EUR 1 210 million.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont's primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont's secondary listing.


Investor/analyst and media contacts 
Sophie Cagnard, Group Corporate Communications Director 
James Fraser, IR Executive
Investors/analysts             +41 22 721 30 03             investor.relations@cfrinfo.net
Media                          +41 22 721 35 07             pressoffice@cfrinfo.net
                                                            richemont@teneobluerubicon.com


COMPAGNIE FINANCIERE RICHEMONT SA
50, CHEMIN DE LA CHENAIE | CASE POSTALE 30 | 1293 BELLEVUE | GENEVA | SWITZERLAND
TELEPHONE +41 (0)22 721 3500 
WWW.RICHEMONT.COM



Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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