PSA Banque France's
long-term credit rating upgraded
Moody's Investors Service has raised its long-term credit rating on PSA Banque France from Baa1 to A3 with a stable outlook.
PSA Banque France, rated Baa1 (stable outlook) by Moody's and BBB (stable outlook), successfully placed today a new €500m fixed-rate bond issue due to mature in April 2023 and carrying an annual coupon of 0.75%.
The issue was almost 2.5x oversubscribed with more than €1.2bn of order book from 110 investors.
This third issuance under EMTN program was carried out with CACIB, HSBC, ING, SANTANDER as Bookrunners.
PSA Banque France thus continues the strategy of diversification of its stable funding sources.