- Renault ADR (OTC:RNLSY) has issued a ¥210 billion (€1.4 billion) bond which will mature in December 2026, carrying a coupon of 2.80%.
- This represents Renault Group’s first-ever issuance of retail bond targeted to individuals and stands as the second-largest public offering of Samurai bonds for individuals.
- The final order book amounted to close to ¥300 billion.
- The issuance allows Renault to seize attractive market conditions, aligned with the European bond market, for general corporate purposes, including the refinancing of some of its upcoming maturities.
- Also Read: Renault’s Deputy CEO Steps Down
- It also diversifies the maturity profile of the French car maker’s outstanding Samurai bonds.
- It is Renault’s second bond issue in the public Samurai bond format this year, following the July 2022 issue.
- “After more than two decades being active on the Japanese bond market, this retail bond allows us to further expand our broad investor base,” said CFO Thierry Piéton.
- “We are very proud to be the first Corporate issuer (i.e., excluding financial institutions) to provide a Samurai bond dedicated to retail investors.”
- Price Action: RNLSY shares traded lower by 3.95% at $6.56 on the last check Thursday.
- Also Read: Renault Partners With Geely To Form Internal-Combustion JV
Wells Fargo Maintains Equal-Weight on Bloom Energy, Raises Price Target to $24
Wells Fargo analyst Michael Blum maintains Bloom Energy (NYSE:BE) with a Equal-Weight and raises the price target from $22 to $24.
