PSA Peugeot Citroën today (22 June 2010) launched a EUR500m 5.625% bond issue due in June 2015.

The main purpose of the issue is to finance the simultaneous partial buyback of 2001 bonds due in September 2011, the company said.

"These transactions aim to strengthen the group’s balance sheet by lengthening the average maturity of its debt at a favourable interest rate," the automaker said in a statement.