Natixis leads three bond issues of the automotive sector

Paris, France, September 30, 2013

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%).

 

 

Termsheet

 

 

 

 

Issuer

Fiat Finance & Trade Ltd. S.A. guaranteed by Fiat S.p.a.

Type

Fixed

Issuer rating

Ba3 / BB-

Size

€400 million

Trade date

September 12, 2013

Maturity date

October 14, 2019

Coupon

6.750%

 

 

Reoffer rate

6.500%

 

 

 

 

 

  • 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%).

 

Teamsheet

 

Issuer

Peugeot SA

Type

Fixed

Issuer Rating

B1 / BB-

Size

€600 million

Trade date

September 10, 2013

Maturity date

January 18, 2019

Coupon

6.500%

 

 

  • 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%).

 

Teamsheet

 

Issuer

Renault SA

Type

Fixed

Issuer rating

Ba1 / BB+

Size

€600 million

Trade date

September 11, 2013

Maturity date

September 19, 2019

Coupon

3.625 %

 

 

 

 

 

 

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