Renault’s Debut Green Bond Gets Bids of Four Times The Size
Newly manufactured vehicles on a transporter depart the Renault SA factory in Flins, France.
Photographer: Anita Pouchard Serra/BloombergRenault SA sold its first green bond to help finance electric vehicles, tapping the euro market for the debt at a time when the industry is grappling with weak demand for battery-powered cars.
The French carmaker drew over €3.4 billion ($4 billion) of orders for a €850 million note due September 2030, according to a person familiar with the matter who asked not to be identified. It priced at 3.875%, 50 basis points tighter than initial price thoughts. It’s Renault’s first bond in the single currency since 2021.