The family holding company of Francois Pinault has launched a bond offer worth 375 million euros (332.04 million pounds), giving investors exposure to shares in Pinault's luxury goods group Kering .

Pinault's Artemis holding company announced the bond launch on Tuesday. Investors will have the right to exchange their bonds into a cash amount which will be determined based on the performance of Kering's shares, added Artemis.

It said the bonds would have a par value of 100,000 euros per bond and bear no interest.

The bonds will be issued on Sept. 22 at a price between 100.5-104.0 percent of their nominal value, corresponding to an annual gross yield to maturity between -0.71 percent to -0.09 percent. They will also be redeemed at par on March 31, 2023.

The initial exchange price will represent an issue premium of 35 percent over a Kering share reference price.
Credit Agricole , Natixis and SocGen are managing the bond issue.