Leasys raises €500m through new bond issuance

Leasys has successfully priced a €500m senior unsecured bond offering under its €10bn Euro Medium Term Note (EMTN) Programme, attracting strong demand from international investors.

The notes, which mature in October 2029, carry a fixed coupon of 4.35%, with a re-offer spread of 90 basis points over mid-swap.

The transaction attracted an order book exceeding €1bn at its peak, with more than 100 investor orders. The final order book was almost twice oversubscribed, reflecting continued investor interest despite challenging market conditions.

The bonds will be listed on the Euronext Dublin regulated market.

Leasys said the transaction, issued under its recently updated EMTN Programme, demonstrated international investor confidence in the company’s credit profile and funding strategy.

The issuance forms part of the vehicle leasing and mobility provider’s wider capital markets funding activities, supporting its operations across Europe.

Leasys is a joint venture between Stellantis and Crédit Agricole Personal Finance & Mobility, providing medium- and long-term vehicle rental and integrated mobility solutions to individuals, professionals and businesses.