MILAN — Kiko SpA, the Italian cosmetics chain known for its accessible prices and up-to-the-minute makeup and skin-care selection, has sold 100 million euros, or $123.9 million at current exchange, worth of bonds in a private placement deal that aims to finance further expansion.
The bonds expire in 2020 and will be listed on the Irish stock exchange.
UBS Ltd. acted as sole placement agent for Kiko. Separately, the beauty company also undersigned a 152 million euro, or $188 million, loan with BNP Paribas and UniCredit SpA as joint underwriter and joint bookrunner.
The operations “seek to support the company in the development of its industrial plan,” which calls for “an ambitious series of store openings to consolidate [Kiko’s] presence in Europe and to develop new markets, such as the U.S. and Brazil,” according to the company.
Owned by the Percassi Group, Kiko has more than 670 stores spread across Italy, Germany, France, Portugal, Spain, the U.K., Austria, Switzerland, Poland, the Netherlands and the U.S., a market it entered this year.