Renault wraps €500M offering of long 5-year bonds at 2.5%; terms

Renault SA has priced its €500 million offering of long five-year bonds at par to yield 2.5%. CIC, Citi (B&D), Commerzbank, Mizuho and Natixis were lead managers.

Initial price thoughts were given earlier today at 2.625%-2.750%.

Proceeds are earmarked to fund general corporate purposes, and the notes are expected to be rated in line with the issuer rating at BB+ and Ba2 from S&P Global Ratings and Moody's, respectively, according to the banks.

The bonds will be issued off the company's euro medium-term note program and can be redeemed at par, three months prior to maturity. Distribution is Reg-S only and the bonds will feature a short first coupon.

Terms: