Renault Launches a 159 Billion Yen Samurai Bond Issue, a First
On Friday, Renault Group initiated a two-tranche Samurai bond issue totaling 159 billion yen. This dual structure (retail and wholesale) is a first for a non-Japanese group in this market.
A Two-Tranche Issue Aimed at Distinct Audiences
Renault Group structured its issuance in two parallel tranches. The first, amounting to 100 billion yen, targets individual investors and matures in 2030 with a coupon rate of 3.02%. The second, amounting to 59 billion yen, targets institutional investors, also maturing on the same date and with the same coupon rate. This structure marks a departure for Renault Group, becoming the first non-Japanese entity to combine a retail and a wholesale tranche in a Samurai bond.
Access to Japanese Refinancing Markets
According to the group, this operation highlights Renault Group's financial robustness, which it attributes to the improvement of its credit rating and the confidence of Japanese investors in its strategic plan, futuREady. The proceeds from the issue will serve the general needs of Renault Group, particularly in anticipating the refinancing of some of its future maturities.
