Italian luxury sneaker brand Golden Goose Group has priced an €880m bond issuance to help finance its acquisition by Chinese private equity firm HSG, in a transaction closely watched as sentiment across the luxury sector remains uneven, according to a report by Bloomberg.
The deal comes at a time when broader market uncertainty—including concerns linked to the ongoing conflict in the Middle East and its potential impact on energy prices and consumer demand—has weighed on issuance activity in European high-yield credit markets.
The report cites unnamed market sources as highlighting that the financing package was split into two tranches: €350m of seven-year fixed-rate notes and €550m of floating-rate notes. Both tranches were upsized from initial minimum targets of €350m each, reflecting solid investor demand despite sector headwinds.
The fixed-rate portion, which is callable after three years, was priced to yield 6.25%, tightening from earlier guidance in the mid-to-high 6% range. The floating-rate tranche, callable after one year, carries a coupon of three-month Euribor plus 400 basis points, also landing at the tighter end of initial pricing talk.
Investor engagement was reportedly supported by Golden Goose’s established brand positioning in key international markets, particularly the US and China, even as luxury goods demand shows signs of softening in parts of the global economy.
Goldman Sachs acted as global coordinator and bookrunner on the deal, alongside JPMorgan, UBS, Citigroup, Deutsche Bank and UniCredit in bookrunning roles.
Golden Goose operates across Europe, the Americas and Asia, offering premium footwear alongside ready-to-wear apparel, accessories and handbags. Its shareholder base includes HSG, Temasek, QIA and Permira.
