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Renault successful €850 million inaugural green bond
Introduction
On September 23rd, 2025, Renault Group has successfully placed its inaugural Green bond nominal amount of EUR 850 million, maturity 5 years and with a 3.875% coupon. Natixis acted as ESG Structuring Advisor and Global coordinator of the transaction.
Key highlights of the transaction
· Size of final books: EUR 3.4bn
· Oversubscription: 4x
· Final Deal size: EUR 850mn
Renault is a forerunner of electric mobility
Established in more than 130 countries, the Group has sold 1,577,351 million vehicles in 2024 (Passenger Cars and Light Commercial Vehicles)[1].
Renault Group presented its Renaulution strategic plan in January 2021, which aims to inspire a profound transformation of its business model. After “REsurrection” and “REnovation”, the first two phases of this plan, the Group opened, in November 2022, the third chapter, so called “REvolution”, leading to an updated strategy and mid-term financial and ESG targets.
The objective of the Renault Group is to achieve net zero carbon in Europe by 2040 (Scopes 1, 2 & 3), and worldwide by 2050.
Bridging the gap between the corporate sustainability roadmap and the financial strategy
In order to fully incorporate this vision into the group's financial strategy, Renault published its Sustainable Bond Framework[2] in 2023, with the support of Natixis as ESG Structuring Advisor . The Framework includes both green and social categories to accurately reflect the group's strategy, and received a positive Second Party Opinion from Moody’s [3] with an SQS2 Sustainability Quality Score (very good) level of assessment.
Renault Sustainable Bond Framework's eligible categories
Transaction insights
On 23rd September 2025, Renault (Ba1 (positive) / BB+ (positive) by Moody’s / S&P) successfully priced an inaugural €850m Green Senior Unsecured 5Y bond, after a day of marketing attended by c.60 investors. It marked Renault’s successful return to the bond market after a c.4-year hiatus.
The company indicated that the expected allocation of the bond proceeds would be
- 100% dedicated to Clean Transportation project category with projects related to electric vehicle projects, such as Battery Electric vehicles, Electric vehicles (4L, R5, New twizy, A290, Micra, Master), Powertrains, platforms,
- 100% Capital expenditures,
- 100% aligned with the European taxonomy, and
- For one third used for refinancing and the other two thirds for new funding.
