By Paul A. Harris
St. Louis, March 11 - Renault SA priced a €500 million issue of 5 5/8% seven-year notes (Ba1/BB/BB) at a 280 basis point spread to euro mid-swaps on Thursday, according to a market source.
The spread printed tight to spread talk of mid-swaps plus 280 bps to 290 bps. That talk had tightened from earlier guidance of mid-swaps plus 280 bps to 300 bps.
BNP Paribas, HSBC and Natixis Bleichroeder were the joint bookrunners.
Renault is a Boulogne-Billancourt, France-based automaker.
| Issuer: | Renault SA
|
| Amount: | €500 million
|
| Maturity: | March 22, 2017
|
| Securities: | Notes
|
| Bookrunners: | BNP Paribas, HSBC, Natixis Bleichroeder
|
| Coupon: | 5 5/8%
|
| Price: | 99.386
|
| Spread to mid-swaps: | 280 bps
|
| Trade date: | March 11
|
| Settlement date: | March 22
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Fitch: BB
|
| Price talk: | Mid-swaps plus 280 bps to 290 bps (tightened from mid-swaps plus 280 bps to 300 bps)
|
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