Faurecia successfully prices €700 million of 2.375% senior notes due 2027
The quality of the investor base and the very favourable conditions achieved demonstrate Faurecia’s credit quality.
Faurecia will use the proceeds of the issuance of the Notes, and cash on hand, to redeem all its €700m 3.625% senior notes due June 2023 (the “2023 Notes”), plus accrued and unpaid interest.
Faurecia will exchange the Notes for all 2023 Notes tendered and accepted in the Tender Offer announced today, at the tender price of this Tender offer, and redeem all the remaining outstanding 2023 Notes at the redemption price.
This new long-term bond issue will allow Faurecia to enhance its financial structure by extending its debt maturity profile and reducing its cost of funding.
An application has been made to list the Notes on Euronext Dublin (Global Exchange Market).
The settlement of the Notes is expected to occur on 27 November 2019.