PSA Peugeot Citroën:Banque PSA Finance announces that it has received the
European Commission’s temporary authorization to use the French State’s
guarantee as security for its future bond issues
PARIS -- February 11, 2013
PSA Peugeot Citroën (Paris:UG):
On 11 February, Banque PSA Finance obtained the European Commission’s
temporary authorization to use the French State’s guarantee to secure its debt
issuance in the period from 1 January 2013 to 31 December 2016. The guarantee
was voted by the French parliament on 29 December 2012 and has been granted in
exchange for a premium. It concerns total issues of up to €7 billion and
covers the principal amount of the debt issues plus related interest, costs
and incidental expenses.
The European Commission’s authorization has been obtained for the first €1.2
billion tranche of issuance with a term of up to 36 months, to be carried out
in the next six months, corresponding to the period needed by the Commission
to issue its final decision concerning this State support.
A 5-member guarantee monitoring committee, comprising representatives of the
French State and the PSA Peugeot Citroën Group, will oversee the coordinated
implementation of the guarantee.
The temporary authorization to use the guarantee, along with the increase in
the securitization programme and the rollover of bank facilities provide
Banque PSA Finance with robust refinancing resources, in terms of their amount
and duration, together with good visibility.
PSA Peugeot Citroën
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