Published by Global Banking & Finance Review®
Posted on March 11, 2026
2 min readLast updated: April 1, 2026
Add as preferred source on GoogleStellantis has raised €5 billion through a multi‑tranche hybrid bond issue—comprising €2.2 billion, €1.8 billion, and £865 million—to shore up liquidity following a €22.2 billion EV‑strategy impairment charge.
MILAN, March 11 (Reuters) - Stellantis said on Wednesday it has priced a multi-tranche 5 billion euro ($5.8 billion) equivalent hybrid bond offering, tapping capital markets weeks after it announced multi-billion charges in a major reset of its electric vehicle strategy.
The automaker announced last month it was taking 22.2 billion euros in impairments after rolling back its electric-vehicle (EV) push, a shift CEO Antonio Filosa attributed to overestimating how quickly customers would switch to cleaner driving.
As part of the move, Stellantis announced it would issue up to 5 billion euros in non-convertible subordinated perpetual hybrid bonds to help it preserve a strong balance sheet and available liquidity.
Stellantis said on Wednesday the bond offering - which was executed on Tuesday - consisted of three tranches: 2.2 billion euros in perpetual fixed‑rate resettable notes with a 5.25-year non-call period and a 6.25% coupon; 1.8 billion in perpetual notes with an 8-year non-call period and a 6.875% coupon; 865 million pounds ($1.16 billion) in perpetual notes with a 6.5‑year non-call period initially paying an 8.25% coupon.
"This issuance will further strengthen Stellantis' capital structure and liquidity position," the Jeep-to-Peugeot maker said in a statement.
The notes settlement is expected on March 16.
The automaker, whose brands also include Ram, Chrysler, Fiat and Citroen, is shifting to put greater emphasis on hybrid and internal combustion models - versus former CEO Carlos Tavares' EV-centred strategy - arguing demand for fully electric vehicles has lagged earlier projections, particularly in the United States.
Stellantis will present its new long-term business plan on May 21.
($1 = 0.8595 euros)
($1 = 0.7441 pounds)
(Reporting by Giulio PiovaccariEditing by Keith Weir)
Stellantis issued the bonds to strengthen its capital structure and preserve liquidity after recording significant impairments related to its electric vehicle strategy.
The offering consists of three tranches totaling €5 billion: €2.2B in 5.25-year non-call notes, €1.8B in 8-year non-call notes, and £865M in 6.5-year non-call notes, each with varying coupons.
Stellantis restructured its EV strategy due to overestimating customer demand for electric vehicles, especially in the United States, leading to €22.2 billion in impairments.
Stellantis is scheduled to present its new long-term business plan on May 21.
Stellantis owns brands including Jeep, Peugeot, Ram, Chrysler, Fiat, and Citroen.
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