Renault taps September bond after it trades up

Renault has launched a tap of the €600m five year bond it issued in September. The French carmaker, rated Ba1/BB+/BB+, wants to raise between €250m and €300m.

  • By Stefanie Linhardt
  • 05 Nov 2013

Bookrunners Citi, Société Générale and UniCredit released initial price thoughts in the 190bp to 195bp over mid-swaps area this morning and later set guidance at 185bp to 190bp.

The tap will be fungible after 40 days. Renault will use the proceeds for general corporate purposes.

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