Mercedes-Benz Italia lists 150 mln euros in bonds on the ExtraMot Pro

Mercedes-Benz Italia lists 150 mln euros in bonds on the ExtraMot Pro
Mercedes-Benz Financial Services Italia, the financing company of the Daimler Group in Italy for the brands Mercedes-Benz and Smart, issued two floating rate bonds for a total size of 150 million euros. One bond has a 100 million euros size and matures in December 2017 paying a  3months euribor plus 55 basis points coupon while the othe bond has a 50 million euros size and matures in December 2020  paying a  3months euribor plus 81 bps. Both bonds have been listed on the ExtraMot Pro market last December 11th, both are senior and bullet bonds and are guarateed by Daimler ag. That's why the bonds have been grated the ratings A3/A-/A-/A respectively by Moody's, S&P's, Fitch and Dbrs. The 5 years bond has been subscribed by an insurance company in a private placement  MF Milano Finanza wrote last Saturday with Mediobanca acting as sole lead manager for the deal. Mercedes-Benz Financial Services Italian is a supervised financial intermediary offering  its customers (individuals, companies, fleets and public sector) financial solutions and integrated additional services . The financial offer consists of various financial products (leasing, installment financing, consumer credit) supplemented by the ability to finance a number of additional services (vehicle maintenance, credit protection, vehicle insurance). Specific financial products are offered to the Mercedes and Smart dealer network (e.g. the financing of the fleet inventory, revolving credit faciliti[...]

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