22 April 2013
Clifford Chance advises the lead managers on the issue of bonds by Banque PSA Finance in an amount of 1.2 billion euros benefiting from the guarantee of the French State
Clifford Chance Paris advised BNP Paribas and the other lead managers on the issue by Banque PSA Finance of 1.2 billion euros of bonds benefiting from the guarantee of the French State.
Banque PSA Finance provides financing for the commercial activities of the PSA automobile group. The bond are listed on Euronext Paris, have an interest rate of 0.625% per annum and a maturity of three years. The French State guarantee meant that the bond issue was able to obtain a rating of AA+ from Standard & Poor's and Aa1 form Moody's.
The Clifford Chance team comprised Cédric Burford (partner) and Gemma Doyle.