Renault SA is using two programs to issue its bonds:
a Euro Medium Term Notes programme (EMTN*), which has been updated in May 2012, including a ceiling at EUR 7 billion. Renault SA has issued in 2012 three eurobonds under its EMTN programme:
- issue of a new bond for a nominal of 600 millions euros with a five years maturity;
- two previous issues increases for a global amount of 500 millions euros.
Renault SA has also opened a new bond market under EMTN into the "DIM SUM" market with an inaugural bond isue of 750 millions CNY, increased by an additional amount of 500 millions CNY.
A Shelf registration Programme updated in may 2012: Renault SA pursues its presence into the Samourai bond market in Japan (yen-denominated bonds issued in Japan by non-Japanese entities) since 2001. It has issued two new Samourai bonds, the first one in June 2012, (32.3 GJPY, maturity 2 years) and the second one in December (30.1 GJPY, maturity 2 years).
* Euro Medium Term Note: documentation issued by a company planning to issue bonds. Similar to a prospectus, the documentation provides information about all the issues the entity is intending to make. With an EMTN program, the company can tap the market whenever it needs funding or when conditions are attractive.