Chicago, March 7 – Stellantis NV priced €1.25 billion of 4.375% green bonds due 2030 (Baa2/BBB/BBB) on Tuesday, according to information from a market source.
The notes priced at 99.675 to yield 4.43%, or at mid-swaps plus 115 basis points. Initial price talk was in the mid-swaps plus 150 bps area.
The notes are callable with a Bunds plus 30 bps make-whole premium initially. There is a three-month par call option.
Bookrunners for the Regulation S notes were BNP Paribas, BofA Securities, BBVA, Commerzbank, Deutsche Bank, Goldman Sachs Bank Europe SE, Mediobanca, Santander and UniCredit.
The final book was above €4.7 billion.
Investor calls started Monday for the offering.
Proceeds will be used for eligible green projects.
Stellantis is an Amsterdam-based automaker and mobility provider.
| Issuer: | Stellantis NV
|
| Amount: | €1.25 billion
|
| Issue: | Senior green notes
|
| Maturity: | March 14, 2030
|
| Bookrunners: | BNP Paribas, BofA Securities (billing and delivery), BBVA, Commerzbank, Deutsche Bank, Goldman Sachs Bank Europe SE, Mediobanca, Santander and UniCredit
|
| Sustainable coordinators: | BNP Paribas and BofA Securities
|
| Coupon: | 4.375%
|
| Price: | 99.675
|
| Yield: | 4.43%
|
| Spread: | Mid-swaps plus 115 bps
|
| Call features: | Make-whole call at Bunds plus 30 bps; three-month par call
|
| Change of control: | At 101
|
| Trade date: | March 7
|
| Settlement date: | March 14
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 150 bps area
|
| Marketing: | Investor calls
|
| ISIN: | XS2597110027
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
