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Faurecia amends and extends its long-term syndicated credit line to reinforce its financial resources and flexibility

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• Increase of the amount to €1.5 billion
• Credit line becomes sustainability-linked, based on Faurecia’s CO2 neutrality target
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Faurecia, one of the world’s leading automotive technology companies, signed on May 28th an Amend & Extend agreement of its syndicated credit line, initially signed in December 2014 and already amended in June 2016 and June 2018.

This new agreement increases the total amount of the credit line, which is undrawn, from €1.2 to €1.5 billion, enabling the Group to reinforce its long-term financial resources and flexibility.

The agreement extends the maturity of the credit line to five years, from June 2023 to May 2026, with two one-year extension options until May 2028. It also improves the other terms and conditions of the credit line.

The interest rate of the credit line will vary depending upon the reduction of Faurecia’s CO2 emissions between 2019 and 2025, where the group aims at being CO2 neutral for its scopes 1 & 2.

Based on the most rigorous and conclusive scientific facts, Faurecia has built a roadmap for CO2 neutrality, which has been approved by the Science Based Targets initiative (SBTi) in November 2020, and is consistent with the reduction required to keep global warming to 1.5°C, the goal of the Paris Agreement.

Natixis acted as ESG Coordinator, and Global Coordinator of the syndicated credit line.

 

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