L’Oréal SA is selling at least €1.5 billion ($1.7 billion) of bonds in a three-part deal to help finance its acquisition of Kering Beauté.

The beauty company is offering a two-year floating-rate note, a five-year fixed-rate note and a long 10-year fixed-rate bond, according to a person familiar with the matter who asked not to be identified.

L’Oréal agreed to buy Kering’s beauty division last month, with the Gucci owner set to receive €4 billion in cash at closing of the deal, which is expected in the first half of next year, as well as royalties from L’Oréal.

The Kering Beauté acquisition marked the latest in a string of deals for the beauty giant. L’Oréal bought Aēsop in 2023 at an enterprise value of about $2.5 billion, and recently purchased South Korean brand Dr. G, a majority

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