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PSA Banque France issued its first Green Bond
After the implementation of its Green Financing Framework end 2022, PSA Banque France placed its 3-year term first Green issuance for an amount of 500 million euros at a fix rate of 3.875%.
After presenting its ESG strategy and its Green Financing Framework on Monday 9th January 2023, PSA Banque France announced launching the first Green Bond the day after. Order book reached 2.9 billion euros at reoffer of MS+85bps, this 5.9 times over-subscription highlighting the investors’ great interest in this new format.
The proceeds of the Green Bond will be allocated to finance or refinance electric vehicles. PSA Banque France is already funding more than 900 million euros of full electric cars and intends to go on supporting a durable mobility.