Faurecia: successfully places E700m in sustainable bonds

(CercleFinance.com) - Faurecia (Forvia) announces the successful placement of 700 million euros of senior sustainability bonds, maturing in 2026, with a coupon of 7.
25%.

The bonds are issued under the Sustainability-Linked Financing Framework established in October 2021.

With the pre-hedging of interest rates with swaptions executed in September 2021, the the automotive supplier's financial cost of these sustainable bonds, after this hedging operation, is 5.35% per year.

Faurecia will use the net proceeds of the offering to partially refinance the bridge loans taken out for the acquisition of Hella, the amount of which will thus be reduced to 500 million euros - or 200 million euros after the HBPO sale is closed.


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