New Issue: Renault prices €300 million tap of its 3 5/8% notes due 2018 at 103.035

By Paul A. Harris

Portland, Ore., Nov. 6 - Renault SA has priced a €300 million add-on to its 3 5/8% notes due Sept. 19, 2018 (Ba1/BB+/BB+) at 103.035, according to an informed source.

Citigroup, SB CIB and UniCredit were the joint bookrunners for the deal, which was priced on the high-grade desk. UniCredit will bill and deliver.

The Boulogne-Billancourt, France-based auto manufacturer plans to use the proceeds for general corporate purposes.

Issuer:	Renault SA
Face amount:	€300 million
Proceeds:	€309 million
Maturity:	Sept. 19, 2018
Security description:	Add-on to the 3 5/8% senior notes due Sept. 19, 2018
Bookrunners:	Citigroup, SB CIB, UniCredit
Billing and delivery:	UniCredit
Coupon:	3 5/8%
Price:	103.035
Settlement date:	Nov. 15 with accrued interest
Ratings:	Moody's: Ba1
	Standard & Poor's: BB+
	Fitch: BB+
Distribution:	Regulation S
Original issue:	€600 million priced in September 2013
Fungibility:	Add-on notes will be fungible with the existing notes after 40 days
Total issue size: €900 million

© 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.