Stellantis Prices Hybrid Bonds Offering to Strengthen Capital Structure
Stellantis announced the pricing of €4 billion in hybrid bonds across three tranches, with coupons ranging from 6.250% to 8.250%.
€2.2bn at 6.250%
€1.8bn at 6.875%
£865m at 8.250%
What Happened
Stellantis N.V. announced the pricing of its offering of subordinated perpetual hybrid bonds, executed on March 10. The issuance totals approximately €4 billion plus £865 million across three tranches with varying terms.
- €2.2 billion Perpetual Fixed Rate Resettable Capital Securities, non-call 5.25 years, coupon 6.250% until June 16, 2031
- €1.8 billion Perpetual Fixed Rate Resettable Capital Securities, non-call 8 years, coupon 6.875% until March 16, 2034
- £865 million Perpetual Fixed Rate Resettable Capital Securities, non-call 6.5 years, coupon 8.250% until September 16, 2032
Settlement is expected on March 16, 2026. The offering fully utilizes the €5 billion authorization granted by Stellantis' Board of Directors.
Why this matters
The bond offering strengthens Stellantis' capital structure and liquidity position, supporting its financial flexibility.
Terms in This Story
- Perpetual hybrid bond
- A bond with no fixed maturity date, often treated as equity for credit rating purposes.
- Subordinated
- A debt ranking below other debts in case of liquidation.
- Coupon
- The annual interest rate paid on a bond.
- Non-call period
- A period during which the issuer cannot redeem the bond early.
Summarised from the linked release; details can be imperfect — always verify against the original source.