Commentary & Deal Flow

Renault SA (RENAUL) EUR benchmark size Reg S (Cat 2) bearer sr notes green bond due 09/30/30 (5Y). NCL (MWC, 3mo par call, 75% clean-up call). Ba1/BB+ (positive/positive). Via/BNP/CA/HSBC/Natixis (B&D)/SMBC/UniCredit jt active books. CA/Natixis jt glocos and ESG structuring advisors. Off the EMTN programme. List Paris. French law. Annual pay, Act/Act. Denoms: 100kx100k. Settles 09/30 (T+5). ISIN: FR0014010DR1.

IPT: 4.375% area.

Did a series of investor meetings 09/22 (CA coordinated the roadshow logistics). Pricing 09/23. UOP: Net proceeds will be used to finance or refinance, in part or in whole, eligible projects as per the Sustainable Bond Framework. Biz: European automobile manufacturer. HQ: Boulogne-Billacourt, France.

Deal Roadshow direct link: https://dealroadshow.com/e/RenaultGreenBond25. Entry Code: RenaultGreenBond25

The Sustainable Bond Framework, SPO and Sustainable Bond Framework presentation are available on the Sustainable bond section of the Issuer's website https://www.renaultgroup.com/en/finance/debt-and-ratings/