Stellantis’ PSA Banque France readies €500 million inaugural green bond offering

Chicago, Jan. 9 – PSA Banque France (A3/BBB+) is preparing to offer a €500 million green bond, according to a source.

Santander will be the sole green structuring agent, global coordinator and a joint active bookrunner.

The issuer also mandated BofA, Credit Agricole CIB, HSBC, ING, Societe Generale and UniCredit as joint active bookrunners.

The bond size will not grow, and the tender is expected to be three years.

Investor calls started on Monday for the Regulation S deal.

Proceeds will be used to finance or refinance new or existing loans and lease for passenger and light commercial vehicles with zero specific CO2 emissions as well as for zero tailpipe CO2 emission quadricycles.

Sustainalytics provided the second-part opinion on the company’s green financing framework.

PSA is Stellantis’ captive finance company in France for Peugeot, Citroen and DS brands.

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