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 by Moody’s and BBB+ by S&P) today placed a €500 million fixed rate bond issuance due April 2022, carrying an annual coupon of 0.50 per cent.
The issue was almost 8 times oversubscribed with around €4 billion of orders from more than 220 accounts.
This fourth issuance under EMTN Programme was carried out with Banco Santander, Bank of America Merrill Lynch, Société Générale CIB and Wells Fargo, as Joint Lead Managers. PSA Banque France thus continues the strategy of diversification of its stable funding sources to support its growth.