Business
Stellantis Is Offering 5 Billion Euros Worth Of Bonds For Sale
Stellantis announced today that it has priced its hybrid bond offering in multiple tranches worth five billion euros.
It came weeks after the international company announced a multibillion-euro charge as part of its electric vehicle strategy, Reuters reported.
The carmaker announced last month that it would issue 22.2 billion euros in write-downs after suspending some of its electric vehicle development.
Stellantis CEO Antonio Filosa attributed this to an overestimation of the dynamics of customers switching to cleaner driving. As part of the move, the company announced it would issue up to five billion euros in bonds to help it maintain a strong balance sheet and available liquidity.
Stellantis announced today that the bond offering consists of three tranches. The first tranche of 2.2 billion euros is in permanent bonds with a fixed interest rate that can be reset; the second is 1.8 billion euros, and the third is around 1 billion euros.
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