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.”

You May Also Like

Brembo Expands Global Industrial Presence

The new site will manufacture braking systems for motorcycle manufacturers in Thailand, starting with European and American producers.

Brembo has announced it has opened its first production site in Thailand. The investment, totaling approximately 40 million euros, reflects the group’s strategy to expand its industrial presence globally and allows Brembo to seize new growth opportunities in the Southeast Asian region. 

The new site will manufacture braking systems for motorcycle manufacturers in Thailand, starting with European and American producers. It will be located in the motorcycle industry hub of the country, situated in the Rayong province, south of the capital Bangkok. Once fully operational, the Brembo site will employ around 150 people.

Freudenberg Group Celebrates 175th Anniversary

The $14 billion business offers sealing and vibration control technology to the global automotive aftermarket.

Freudenburg Sealing Technology
The India Auto Parts Manufacturing Industry

Vinnie Mehta discusses how the performance of the Indian automotive parts industry is progressing, among other related topics.

The India Auto Parts Manufacturing Industry Performance
Study: Indian Auto Aftermarket Expected to Reach $14B by 2028

The report by the Automotive Component Manufacturers Association and Ernst & Young shows an over $35 billion export opportunity for India.

India-Auto-aftermarket
Valvoline Global Launches Mechanics Month Campaign

The 5th-annual campaign is designed to support and celebrate the value of mechanics around the world.

Valvoline Global Operations Launches Mechanics Month Campaign

Other Posts

Automechanika, Frost & Sullivan Form New Partnership

The strategic alliance will deliver a continuous flow of valuable content at Automechanika’s worldwide trade fairs.

Automechanika, Frost & Sullivan Form New Partnership
Dana Sells European Hydraulics Business

It has been sold to HPI Group, a hydraulics business jointly held by Apogee Group and EiM Capital.

Dana Sells European Hydraulics Business
Valeo Joins Data Exchange with Industry Partners

Data4Industry-X seeks to accelerate digital transformation in manufacturing while adhering to European data regulations.

Data-4-Industry-X
Forvia Reports FY 2023 Results After HELLA Acquisition

The company reported synergies with HELLA, with cumulative net cost synergies reaching over $200 million by the end of 2023.