Chicago, Jan. 10 – PSA Banque France sold €500 million of 3 7/8% green bonds with a three-year tenor (A3/BBB+) on Tuesday, according to a sellside source.
The bonds priced at 99.789 to yield 3.951%, or at mid-swaps plus 85 basis points.
The bonds are callable with a Bunds plus 25 bps make-whole premium. In the last month, the notes are callable at par.
Santander is the global coordinator and the green structuring agent.
The bookrunners are BofA Securities, Credit Agricole CIB, HSBC, ING, Societe Generale and UniCredit.
Final books were around €2.9 billion.
Investor calls started on Monday for the Regulation S deal.
Proceeds will be used to finance or refinance new or existing loans and leases for passenger and light commercial vehicles with zero specific CO2 emissions as well as for zero tailpipe CO2 emission quadricycles.
PSA is Stellantis’ captive finance company in France for Peugeot, Citroen and DS brands.
| Issuer: | PSA Banque France
|
| Amount: | €500 million
|
| Issue: | Green senior bonds
|
| Maturity: | Jan. 19, 2026
|
| Bookrunners: | Santander (global coordinator), BofA Securities, Credit Agricole CIB, HSBC, ING, Societe Generale and UniCredit
|
| Green opinion: | Sustainalytics
|
| Coupon: | 3 7/8%
|
| Price: | 99.789
|
| Yield: | 3.951%
|
| Spread: | Mid-swaps plus 85 bps
|
| Call features: | Make-whole call at Bunds plus 25 bps; one-month par call
|
| Trade date: | Jan. 10
|
| Settlement date: | Jan. 19
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Distribution: | Regulation S
|
| Marketing: | Investor call
|
| ISIN: | FR001400F6V1
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