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RCI Banque issues €1.35 billion worth of bonds

RCI Banque SA completed a two-tranche bond offering totaling €1.35 billion.

The offering, which was the French bank's second dual-tranche offering in euros, was one of RCI Banque's largest transactions in capital markets, it said. The bank launched the first offering in March.

One tranche of the issuance, amounting to €750 million, has a duration of four years and was priced with a floating-rate coupon of three-month EURIBOR plus 0.65%. The second tranche of €600 million carries a coupon of 1.38% for eight years.

The first tranche attracted 211 investors, constituting a final order book of nearly €2.2 billion, while the second tranche collected a €1 billion order book from about 115 subscribers.

RCI Banque is a unit of French automobile manufacturer Renault SAS.