Fiat prices inside Peugeot but with more NIP on €400m tap

Fiat joined the spate of deals this week by Europe’s high yield-rated carmakers with a €400m tap of the €850m bond it had issued exactly two months earlier.

  • By Jon Hay
  • 13 Sep 2013

Rated B1 (negative)/BB- (stable)/BB- (negative), Fiat Finance and Trade’s ratings are more or less identical to those of Peugeot, which had issued a €600m bond two days earlier. Renault (Ba1/BB+) came on the Wednesday in between.

Fiat paid a fatter new issue premium than the other two — ...

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