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Goldman Sachs is leading a consortium of banks to provide a 2.5-billion-euro financing package for Prada's acquisition of Versace, currently owned by Capri Holdings. Of this amount, 1.5 billion euros will be allocated for the acquisition, while 1 billion euros is earmarked for revitalizing the struggling brand.
Goldman Sachs is leading a consortium of banks to provide a 2.5-billion-euro financing package for Prada's acquisition of Versace, currently owned by Capri Holdings. Of this amount, 1.5 billion euros will be allocated for the acquisition, while the remaining 1 billion euros is intended to revitalize the struggling brand.
The Nasdaq reached a record high of 20,173.74, climbing 1.1% as tech stocks thrived ahead of the Federal Reserve's policy meeting. Broadcom surged over 10% following strong earnings, while Tesla hit a new record, boosting its market cap to approximately $1.45 trillion. In contrast, Ford fell 4% after a downgrade, and Honeywell rose over 3% amid plans to spin off its aerospace division. The Fed is expected to cut rates by 100 bps in 2024, with a focus on future easing amid persistent inflation and a resilient labor market.
Tapestry Inc., the owner of Coach and Kate Spade, is entering the investment-grade bond market for the first time following the cancellation of its acquisition of Capri Holdings Ltd. The company plans to issue bonds in two parts, with the 10-year note potentially yielding around 1.6 percentage points over Treasuries.
Capri Holdings Ltd
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Goldman Sachs leads 2.5 billion euro financing for Prada Versace acquisition
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