Finance / 30/12/2013
Successful early redemption of the bonds convertible into and/or exchangeable for new or existing shares (OCEANE) due January 1, 2015
On November 30, 2013, Faurecia announced its decision to proceed with the early redemption of bonds issued on November 26, 2009 and convertible into new shares and/or exchangeable for existing shares (ISIN FR0010827055).
There were 11,304,290 bonds outstanding at October 31, 2013.
Up to December 17, 2013, the holders of the OCEANE had the option, either to convert their bonds into Faurecia shares, at the ratio of 1.04 Faurecia share (ISIN FR0000121147) per 2009 Bond presented, or to receive a cash amount equal to EUR 19.526 per 2009 Bond.
Bondholders opted nearly unanimously for conversion of their bonds into Faurecia shares: 11,284,793 bonds, i.e., 99.83% of the total outstanding, will be converted into 11,736,190 new Faurecia shares.
This early redemption initiated by Faurecia allows the Group to reinforce its equity and to reduce its net debt position by around EUR 205 million.
Following the redemption/conversion process scheduled for December 30, 2013, the total number of outstanding Faurecia shares will be 122,588,135.
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