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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
COND
PRCD
RENAUL
Renault SA€1,000
1EMEA
Nov 16, 2020
currency
EUR
size (m)
1,000.000
maturity
May 25, 2026
type
Fixed
tenor
5.500
call
0.00
registration
Reg S Only
benchmark
-
ranking
-
moody's
Ba2
s&p
BB+
fitch
-
size description
-
re-open/tap
No
ipt
2.75%-2.875%
ipt-pxd
-
guidance
2.375%-2.50%
spread
311.2
coupon
2.375%
spread set
-
price
100.00000
yield
2.375%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Registration: Reg S Only; Comments: 11/16/2020 Renault SA (RENAUL) EUR1bn (up from EUR750m minimum) Reg S Bearer sr unsec notes due 05/25/26 (5.5y). NCL (MWC B+50bp) (3mo par call) (80% clean-up call). Exp Ba2/BB+ (negative/negative). Via BNPP/CA/HSBC/Natixis/SocGen (B&D) joint lead managers. Off the EMTN programme. List Euronext Paris. French Law. Annual (Act/Act), short first coupon. Settles 11/25 (T+7). ISIN: FR0017000NZ4. IPT 2.75%-2.875%. Size/Guidance: EUR750m minimum size, 2.375%-2.50% (annual yield). Final terms: EUR1bn at 2.375% (annual yield). Priced: 2.375% at 100. +311.2bp vs DBR 0.5% Feb 2026. MS+280.3bp. Books were over EUR3.6bn (pre-rec, at the tight end of guidance). Books went subject at 11:45am UKT 11/26. UOP: GCP. Biz: European car and truck manufacturer. HQ: Boulogne-Billancourt, France.;
Relative Value


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