Renault rides bond market backing months after bailout

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By Mike Turner
16 Nov 2020

Renault, the French car maker, issued on Monday its first bond since taking a €5bn state-backed loan. Investors piled into the deal.

Renault, rated Ba2/BB+/BB, opened books on a May 2026 trade at a yield of 2.75%-2.875%.

The issuer appeals to investment grade and high yield buyers, though marketing the trade on a yield basis was aimed more at the high yield crowd, said a banker at one of the lead ...

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