RCI Banque follows euro FRN with rare sterling offering
Euro corporate bond investors see RCI Banque as a frequent borrower, pricing new issues multiple times a year. But it remains a rare name for sterling investors. On Friday it sold its first bond in the currency for over three years — a bond that has already matured.
Before Friday’s deal was priced, the car financing subsidiary of Renault had just a £300m deal with a 2018 maturity and a £250m deal with a 2019 maturity. Both were issued as five year deals.
The latest deal was also issued as a five year trade. Lead
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