PSA Peugeot Citroën launches €500m bond issue

French automobile manufacturer PSA Peugeot Citroën has successfully launched a €500m (£417m) 5.6 per cent bond issue, due in June 2015.

The main purpose of the issue is to finance the simultaneous partial buyback of 2001 bonds due in September 2011.

These transactions aim to lengthen the average maturity of the group’s debt at a favourable interest rate.