Banque PSA Plans Euro Benchmark 3-Year Bond

8th Jul 2010 09:52

LONDON (Dow Jones)--Banque PSA, the financial unit of French auto maker Peugeot SA (UG.FR), is planning a three-year, euro-denominated, benchmark bond, one of the banks working on the deal said Thursday. Banco Bilbao Vizcaya Argentaria SA, Credit Agricole SA, HSBC Holdings PLC and Royal Bank of Scotland Group PLC are joint lead managers on the deal, which is expected to price later Thursday. Banque PSA is rated Baa1 by Moody's Investors Service Inc. and BBB by Standard & Poor's Corp. Banque PSA was last in the market in April when it sold a EUR500 million, 2014 bond. Thursday's deal comes after FCE Bank PLC, a unit of Ford Motor Co.(F), Wednesday sold a EUR400 million, 2013, high-yield bond. -By Ainsley Thomson, Dow Jones Newswires; 44 20 7842 9318; [email protected] (END) Dow Jones Newswires July 08, 2010 04:52 ET (08:52 GMT)