Faurecia Completes Refinancing of HELLA Acquisition

Faurecia Completes Refinancing of HELLA Acquisition

The acquisition was entirely refinanced through pricing an additional €250 million of sustainability-linked senior notes.

Faurecia S.E., a FORVIA group company, announced it entirely refinanced the HELLA acquisition through pricing an additional €250 million of sustainability-linked senior notes.

Faurecia successfully priced the New Notes, sustainability-linked 7.25% senior notes due 2026, following a private placement arranged by BNP Paribas. The company says it priced the New Notes at 101.75% of par, or a yield of 6.65%.

Settlement of the New Notes is expected to take place on Feb. 1, 2023.

Faurecia says the proceeds of the issuance of the New Notes will be used to fully reimburse the Bridge-to-Bond and the Bridge-to-Equity in connection with the HELLA acquisition and for general corporate purposes.

“We are very pleased with the outcome of this private placement,” said Olivier Durand, Group CFO. “It allows us to complete the reimbursement of the Bridge-to-Bond and the Bridge-to-Equity related to the acquisition of HELLA. We did it ahead of deadlines and at a reasonable average cost.”

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