Leasys has successfully priced a new issuance of senior unsecured notes worth €750 million. The notes, due in July 2030, carry a fixed coupon of 3.70%. This marks the company’s seventh public offering under its Euro Medium Term Note (EMTN) Programme.
Details of the Offering
The €750 million notes were issued under Leasys’ updated €10 billion EMTN Programme. The offering attracted strong demand, with an order book peaking at over €1.85 billion from more than 110 investors. This resulted in an oversubscription of nearly 2.5 times.
The final coupon rate was set at 3.70%, with a re-offer spread 70 basis points over the mid-swap. This represents a tightening of 25 basis points from the initial pricing, reflecting the high quality of investor interest.
About Leasys
Leasys is a joint venture between Stellantis and Crédit Agricole Personal Finance & Mobility. It is a leading European company in medium- to long-term vehicle rental. The firm manages a fleet of more than 912,000 vehicles and operates in 11 European countries:
- Austria
- Belgium
- France
- Germany
- Italy
- Luxembourg
- Netherlands
- Poland
- Portugal
- United Kingdom
- Spain
Leasys offers integrated mobility solutions for individual customers, professionals, and companies, focusing on sustainable and digitalized mobility services.
Why It Matters
This latest bond issuance underlines Leasys’ strong position in the European mobility market and its solid credit profile. The oversubscribed demand from international investors suggests confidence in the company’s future growth and its strategy towards sustainable mobility.
Source: media.stellantis.com