BOULOGNE-BILLANCOURT: Renault Group announced the successful placement of a ¥210 billion (c. €1.4 billion) new bond issue maturity December 2026 and carrying a coupon of 2.80%.
This transaction represents Renault Group’s first-ever issuance of retail bond targeted to individuals and stands as the second largest public offering of Samurai bond for individuals.
The final orderbook amounted to close to ¥300 billion, underlying the high confidence of Japanese retail investors in the Renault Group strategy as well as its ongoing transformation.
This issuance allows Renault Group to seize attractive market conditions, aligned with the European bond market, for general corporate purposes including the refinancing of some of its upcoming maturities. With a four-year tenor, this issuance also diversifies the maturity profile of Renault Group’s Samurai bonds outstanding. This is Renault Group’s second bond issue in the public Samurai bond format this year, following the July 2022 issue.
This issuance was solely arranged by SMBC Nikko Securities as Lead Manager.
“After more than two decades being active on the Japanese bond market, this retail bond allows us to further expand our broad investor base. We are very proud to be the first Corporate issuer (i.e. excluding financial institutions) to provide a Samurai bond dedicated to retail investors. It highlights the soundness of the Renault Group’s signature on the credit market.” said Thierry Piéton, Chief Financial Officer of Renault Group.