RCI Banque raises £250m for UK arm at tight level

By Jon Hay
01 May 2014

RCI Banque, the finance arm of Renault, turned to the sterling bond market on Tuesday to finance its UK lending, and benefited from the absence of sterling issuance since April 11.

“The issuer didn’t want to raise more than £250m because they did not need more,” said a banker at one of the leads, BNP Paribas, Lloyds and Royal Bank of Scotland.

The Baa3/BBB rated issuer brought a five year bond, which attracted the usual mixed crowd of investors ...

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