With a net debt of 2.79 billion euros (thanks in a large part to their $1.5 billion purchase of Oakley) Luxottica is reportedly launching the “placement of $300 million worth of 10-year bonds with institutional investors” according to a report in Il Sole 24 Ore.
The proceeds will be used to refinance the $2.1 billion acquisition of the U.S. group Oakley completed in November last year.
In August, Luxottica said that the purchase would be financed by a $1.5 billion amortizing term loan with a maturity of five years and by a $500 million short-term bridge loan underwritten by Bank of America and UniCredit Market and Investment Banking.
But according to Forbes , no one at the company is commenting. They’re sticking to their official numbers of “strong growth .”
[Link: Forbes]
