Kering lowers exchange price of bonds due 2022 exchangeable into Puma

By Wendy Van Sickle

Columbus, Ohio, May 12 – Kering SA said the exchange price of its €550 million of 0% bonds due 2022 (ISIN: FR0013450483) exchangeable for ordinary shares of Puma SE was lowered to €91.8292 from €92.17, effective Thursday.

The exchange price was adjusted as a result of a cash dividend of €0.72 per share payable to Puma shareholders of record on May 13, which constitutes a surplus dividend, according to news release.

Paris-based Kering is a luxury brands group.

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