Renault squeezes NIP to 17bp with €250m tap
Renault, the French carmaker, raised €250m today (Monday) by tapping its 4.625% May 2016 bond. Bookrunners BNP Paribas (billing and delivering), BBVA and Commerzbank priced the notes to yield 295bp over mid-swaps or 4.302% – just 17bp over the existing issue’s secondary level at the time of announcement, according to a banker.
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