On September 9, 2014, PSA Peugeot Citroen launched a tender offer to buy back several outstanding bond lines maturing in June 2015, March 2016, October 2016 and July 2017.
The buyback marks the continuation of the active debt management strategy initiated by the Group in September 2013.
The offer was a success, yielding total proceeds of €374 million, which will help to further reduce the Group’s debt and its financial charges.
The transaction confirms the Group’s ability to take advantage of favourable market conditions to conduct transactions in order to successfully carry out its financing strategy.
The managers for the transaction were BNP Paribas, HSBC, Natixis and Société Générale and the centralising agent was BNP Paribas Securities Services.
