By Cristal Cody
Chicago, Sept. 9 – Stellantis Finance US Inc. sold $2 billion of notes in two parts on Wednesday, according to a market source.
The company sold $1 billion of 1.711% notes due Jan. 29, 2027 with a spread of Treasuries plus 90 basis points. The notes had been marketed with a spread in the Treasuries plus 125 bps to 130 bps area.
The company sold a second tranche for $1 billion. The 10-year notes priced with a 2.691% coupon and a spread of Treasuries plus 135 bps. Spread talk had the notes expected in the area of 175 bps to 180 bps over Treasuries.
BofA Securities, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC handled the Rule 144A and Regulation S sale.
The issuer is a new U.S. financing arm of parent company Stellantis NV, an automaker and mobility provider based in Amsterdam.
| Issuer: | Stellantis Finance US Inc.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | BofA Securities, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 8
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2027 notes
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| Amount: | $1 billion
|
| Maturity: | Jan. 29, 2027
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| Coupon: | 1.711%
|
| Spread: | Treasuries plus 90 bps
|
| Price talk: | Treasuries plus 125 bps to 130 bps area
|
|
|
| 2031 notes
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| Amount: | $1 billion
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| Maturity: | Sept. 15, 2031
|
| Coupon: | 2.691%
|
| Spread: | Treasuries plus 135 bps
|
| Price talk: | Treasuries plus 175 bps to 180 bps area
|
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