By Paul A. Harris
Portland, Ore., May 17 - Renault SA priced a €500 million issue of 4 5/8% five-year corporate bonds (Ba1/BB+) at a 185 basis points spread to mid-swaps on Tuesday, according to an informed source.
The spread came at the tight end of the mid-swaps plus 185 to 190 bps price talk.
Citigroup, Credit Agricole CIB and Natixis Bleichroeder were the joint bookrunners.
Citigroup will bill and deliver for the French automobile manufacturer's issue.
| Issuer: | Renault SA
|
| Face amount: | €500 million
|
| Proceeds: | €497.295 million
|
| Maturity: | May 25, 2016
|
| Securities: | Bonds
|
| Bookrunners: | Citigroup (bill and deliver), Credit Agricole CIB, Natixis Bleichroeder
|
| Coupon: | 4 5/8%
|
| Spread: | Mid-swaps plus 185 bps
|
| Price: | 99.459
|
| Yield: | 4.749%
|
| Trade date: | May 17
|
| Settlement date: | May 25
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Distribution: | Euro medium-term notes program
|
| Price talk: | Mid-swaps plus 185 to 190 bps
|
| Marketing: | Quick to market
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
