RCI Banque joins floater surge for €600m, cuts funding cost

With the growth of floating rate note issuance in Europe recently, it is perhaps surprising that RCI Banque, the finance arm of Renault, had not yet joined the trend. But the revival of FRN investors’ appetite, in terms of size, credit quality and maturity, has been fairly recent, making now the right time to bring RCI, bankers said.