Natixis leads three bond issues of the automotive sector
Natixis acted as active bookrunner for three bond issues on behalf of Fiat, Peugeot SA and Renault, which have been highly oversubscribed.
These successful operations further confirm the expertise of the Debt Platform.
The three issues attracted Tier 1 investors thanks to the quality of the credit and the termsheet.
- Fiat: €400 million 6-year bond issue, with a coupon of 6.500%
On September 12, Fiat successfully priced a €400 million bond issue. Oversubscribed 3.15 times, the book reached €1.25 billion.
Demand came mainly from the UK (32%) followed by France (18%), Germany and Austria (12%) and Italy (10%).
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Termsheet |
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Issuer |
Fiat Finance & Trade Ltd. S.A. guaranteed by Fiat S.p.a. |
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Type |
Fixed |
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Issuer rating |
Ba3 / BB- |
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Size |
€400 million |
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Trade date |
September 12, 2013 |
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Maturity date |
October 14, 2019 |
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Coupon |
6.750% |
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Reoffer rate |
6.500% |
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- Peugeot SA: €600 million 5-year bond issue, with a coupon of 6.500%
On September 10, Peugeot successfully priced a €600 million bond issue. Oversubscribed 5.5 times, the book reached €3.3 billion.
The geographical breakdown is diversified. Demand came mainly from the UK (48%), followed by France (18%), Germany and Austria (10%) and Southern Europe (10%).
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Teamsheet |
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Issuer |
Peugeot SA |
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Type |
Fixed |
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Issuer Rating |
B1 / BB- |
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Size |
€600 million |
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Trade date |
September 10, 2013 |
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Maturity date |
January 18, 2019 |
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Coupon |
6.500% |
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- Renault SA: €600 million 5-year bond issue, with a coupon of 3.625%
On September 11, Renault successfully priced a €600 million bond issue. Oversubscribed 3.5 times, the book reached €2.1 billion.
The bond was oversubscribed, mostly by Switzerland (24%), France (21%), Germany and Austria (17%).
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Teamsheet |
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Issuer |
Renault SA |
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Type |
Fixed |
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Issuer rating |
Ba1 / BB+ |
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Size |
€600 million |
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Trade date |
September 11, 2013 |
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Maturity date |
September 19, 2019 |
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Coupon |
3.625 % |
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Contact
Vanessa Stephan
Global Head of External Communication at Natixis CIB, Groupe BPCE
See contact information