Finance / 12/01/2016
Successful early redemption of the bonds convertible into and/or exchangeable for new or existing shares (OCEANE) due January 1, 2018
There were 8,479,891 OCEANEs outstanding as at November 30, 2015, out of a total of 12,833,675 OCEANEs issued initially.
Up to January 6, 2016, the holders of the OCEANEs had the option, either to convert their OCEANEs into Faurecia shares, at the ratio of 1.02 share (ISIN FR0000121147) per 2009 OCEANE presented, or to receive on January 15, 2016 a cash amount equal to EUR 19.504 per 2009 OCEANE, including accrued interest.
Bondholders opted nearly unanimously for conversion of their OCEANEs into Faurecia shares: 8,454,791 OCEANEs, i.e. 99.70% of the total outstanding, have been converted into 8,623,867 new Faurecia shares.
Following the redemption/conversion process, the total number of outstanding Faurecia shares is 137,882,901.
This early redemption initiated by Faurecia allows the Group to reinforce its equity and to reduce its net debt position by around EUR 225 million.
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