Moet Hennessy Louis Vuitton SE (LVMH) is a French multinational luxury goods company seeking expansion. The company plans to issue five-year non-amortizing bonds with a total face value of 100 million EUR and a coupon rate of 8%. LVMH have contracted with AGI capital, an investment bank. The investment bank will charge fees of 160 bps against the face value of the bonds. AGI capital estimates that the bonds will sell for 879.42 EUR per 1000 EUR of face value.

Based on the estimates above, what are the net proceeds LVMH will obtain from their bond sale?