Stellantis raises €5 billion via hybrid bond offering
Bond sale split into 3 parts 
The company plans to share its updated business strategy on May 21, a move that could shape what's next for some of the world's most iconic car brands.
The bond sale was split into three parts: €2.2 billion with a 6.25% rate (locked until 2031), €1.8 billion at 6.875% (until 2034), and £865 million at 8.25% (until 2032).
The issuance fulfills an authorization previously granted by Stellantis's Board of Directors to issue up to €5 billion in perpetual subordinated hybrid bonds.
After taking a hit of €22.2 billion because electric vehicle sales didn't take off as hoped, Stellantis is now betting more on hybrids and traditional engines instead of going all in on electric vehicles.
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