PSA Peugeot Citroën carries out a tap of bond issues

PSA Peugeot Citroën has carried out a tap of the two bond issues that had been launched simultaneously in October 2010.

From a mutual initial size of $500m (£425m) each, the October 2013 bond issue was increased by €350m and the October 2016 by €150m.

The yields offered in the context of these taps are lower than the yields offered initially, by about 40 basis points on the October 2013 issue carrying a four per cent coupon, and by about 30 basis points on the October 2016 issue carrying a five per cent coupon.

According to the group, these issues demonstrate its ability to seize opportunities in the bond market, enabling it to benefit from attractive interest rates and to exercise increased flexibility for debt management.