Hugo Boss Raises $185 Million for Investment Plan
By Andrea Figueras
Hugo Boss has raised 175 million euros ($185.3 million) to finance further investments as part of its growth strategy 'CLAIM 5' aimed at accelerating growth across all brands, touchpoints and geographies.
The German premium-fashion firm raised the proceeds via a schuldschein loan--a financial instrument similar to a bond, but which doesn't need to be registered at a stock exchange--after the initial target volume of EUR100 million was significantly exceeded due to high demand.
The loan comprises 4 tranches with maturities of 3 and 5 years, each of which was offered with fixed and variable interest rates, Hugo Boss said.
More than 70 institutional investors participated in the financing, with high demand in Europe and Asia, it said.
The transaction was arranged by DZ Bank AG and Landesbank Baden-Wuerttemberg, the company said.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
October 25, 2023 05:26 ET (09:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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