November 21, 2019 / 7:30 AM / 15 days ago

EssilorLuxottica launches 5 billion euro bond issuance

PARIS, Nov 21 (Reuters) - EssilorLuxottica launched a bond issuance worth five billion euros ($5.54 billion), the world’s largest eyewear company said on Thursday, adding the final order book exceeded 13 billion euros.

The company, formed last year through the merger of French lenses specialist Essilor and Italian eyewear maker Luxottica, said the issuance would enable it to finance part of its planned 7.2 billion euro acquisition of Dutch peer GrandVision .

The issuance was launched with terms of 3.5 years carrying a coupon of 0% (negative yield of -0.02%) and 5.5, 8 and 12 years, coupons of 0.1250%, 0.375% and 0.75%, respectively.

$1 = 0.9032 euros Reporting by Sudip Kar-Gupta and Benoit Van Overstraeten; editing by Jason Neely

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