FORVIA FURTHER IMPROVES ITS DEBT PROFILE BY USING PROCEEDS FROM ADDITIONAL ISSUANCE OF SENIOR NOTES DUE 2031 TO PARTIALLY REFINANCE EXISTING 2026 SUSTAINABILITY-LINKED NOTES
2024年5月8日 - 1:30AM
FORVIA FURTHER IMPROVES ITS DEBT PROFILE BY USING PROCEEDS FROM
ADDITIONAL ISSUANCE OF SENIOR NOTES DUE 2031 TO PARTIALLY REFINANCE
EXISTING 2026 SUSTAINABILITY-LINKED NOTES
Not for distribution, directly or indirectly, in
the United States, Canada, Australia or Japan
NANTERRE (FRANCE)MAY 7,
2024
FORVIA FURTHER IMPROVES ITS DEBT PROFILE
BY USING PROCEEDS FROM ADDITIONAL ISSUANCE OF SENIOR NOTES DUE 2031
TO PARTIALLY REFINANCE EXISTING 2026 SUSTAINABILITY-LINKED
NOTES
- Issued an additional €200 million of 5.500% Senior Notes due
2031 at 101.75% of par, corresponding to a yield of 5.20%
- Proceeds from the issuance, with additional cash, used to
repurchase €250 million of existing 2026 7.250%
Sustainability-Linked Notes by way of a tender offer, thus reducing
the Group’s gross debt
FORVIA has successfully closed its previously
announced offering of an additional €200 million in aggregate
principal amount of 5.500% Senior Notes due 2031 (the “New Notes”),
which will be consolidated with and form a single series with the
existing €500 million 5.500% Senior Notes due 2031 issued on 11
March 2024 after the expiry of a 40-day distribution compliance
period.
The New Notes obtained credit rating in line
with the long-term credit rating of FORVIA (i.e., “BB+” by Fitch
Ratings, “Ba2” by Moody’s and “BB” by Standard & Poor’s) and
are listed on the Global Exchange Market of Euronext Dublin.
The associated tender offer (the “Tender Offer”)
for the repurchase of FORVIA’s existing 7.250%
Sustainability-linked Notes due 2026 (the “Existing Notes”) also
settled today. With the success of the Tender Offer, FORVIA decided
to increase the maximum amount of the Existing Notes accepted for
tender in the Tender Offer to, and has accepted the tenders of,
€250 million in aggregate principal amount of the Existing Notes,
which Existing Notes have now been cancelled. This tender offer
further reduces the outstanding amount of the Existing Notes, which
now stands at €330.2 million vs the initial €950 million
issuance.
These transactions allow the Group to
proactively manage its liabilities and extend its average debt
maturity.
Olivier Durand, Chief Financial Officer
of FORVIA, declared: “After a first successful operation
of bond issue and repurchase of existing maturities in March, this
new transaction not only demonstrates FORVIA’s ability to take
advantage of improving market conditions to actively manage its
maturity profile but also, by deciding to increase the tender
offer, its intention to reduce its gross debt. It’s complementary
to the Group’s commitment to accelerate the deleveraging and fully
rebalance its capital structure.”
PRESS |
ANALYSTS/INVESTORS |
Christophe MALBRANQUEGroup Media Relations
Director+33 (0) 6 21 96 23 53christophe.malbranque@forvia.com |
Marc MAILLETGroup Head of Investor Relations +33
(0) 1 72 36 75 70marc.maillet@forvia.com |
Iria MONTOUTOGroup Media
Relations Officer+33 (0) 6 01 03 19 89iria.montouto@forvia.com |
Sébastien LEROYGroup Deputy
Investor Relations Director+33 (0) 6 26 89 33
69sebastien.leroy@forvia.com |
About FORVIA, whose mission is: “We
pioneer technology for mobility experiences that matter to
people”.
FORVIA, 7th global automotive technology
supplier, comprises the complementary technology and industrial
strengths of Faurecia and HELLA. With close to 260 industrial sites
and 78 R&D centers, 153,000 people, including 15,000 R&D
engineers across 40+ countries, FORVIA provides a unique and
comprehensive approach to the automotive challenges of today and
tomorrow. Composed of six Business Groups and a strong IP portfolio
of over 13,400 patents, FORVIA is focused on becoming the preferred
innovation and integration partner for OEMS worldwide. In 2023, the
Group recorded consolidated sales above 27 billion euros. FORVIA SE
is listed on the Euronext Paris market under the FRVIA mnemonic
code and is a component of the CAC Next 20 and CAC SBT 1.5°
indices. FORVIA aims to be a change maker committed to foreseeing
and making the mobility transformation happen.
www.forvia.com
IMPORTANT NOTICE
This document is not an offer of securities for
sale in the United States. The notes being offered by Forvia (the
"Notes") may not be sold in the United States unless they are
registered under the Securities Act or are exempt from
registration. The offering of Notes described in this announcement
has not been and will not be registered under the Securities Act,
and accordingly any offer or sale of Notes may be made only in a
transaction exempt from the registration requirements of the
Securities Act.
It may be unlawful to distribute this document
in certain jurisdictions. This document is not for distribution in
Canada, Japan or Australia. The information in this document does
not constitute an offer of securities for sale in Canada, Japan or
Australia.
Promotion of the Notes in the United Kingdom is
restricted by the Financial Services and Markets Act 2000 (the
“FSMA”), and accordingly, the Notes are not being promoted to the
general public in the United Kingdom. This announcement is directed
solely at (i) persons located outside the United Kingdom, (ii)
persons with professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005, as amended
(the “Order”), (iii) high net worth entities, and other persons to
whom it may lawfully be communicated, falling within Article
49(2)(a) to (d) of the Order and (iv) persons to whom an invitation
or inducement to engage in investment activity (within the meaning
of section 21 of the Financial Services and Markets Act 2000
(“FSMA”)) in connection with the issue or sale of any securities of
the Issuer or any member of its group may otherwise lawfully be
communicated or caused to be communicated (all such persons in (i)
– (iv) above being “relevant persons”). Any investment activity to
which this announcement relates will only be available to and will
only be engaged with relevant persons. Any person who is not a
relevant person should not act or rely on this announcement.
The offer and sale of the Notes will be made
pursuant to an exemption under the Prospectus Regulation from the
requirement to produce a prospectus for offers of securities. This
announcement does not constitute a prospectus within the meaning of
the Regulation EU 2017/1129, as amended (the "Prospectus
Regulation") or an offer to the public.
The offer and sale of the Notes will be made
pursuant to an exemption under the UK Prospectus Regulation from
the requirement to produce a prospectus for offers of securities.
This announcement does not constitute a prospectus within the
meaning of the Prospectus Regulation as it forms part of domestic
law by virtue of the European Union (Withdrawal) Act 2018 (the “UK
Prospectus Regulation”) or an offer to the public.
MiFID II professionals/ECPs-only/No PRIIPs KID –
Manufacturer target market (MIFID II product governance) is
eligible counterparties and professional clients only (all
distribution channels). No PRIIPs key information document (KID)
has been prepared as the Notes are not available to retail
investors in EEA.
MiFIR professionals/ECPs-only/No UK PRIIPs KID –
Manufacturer target market (UK MIFIR product governance) is
eligible counterparties and professional clients only (all
distribution channels). No UK PRIIPs key information document (KID)
has been prepared as the Notes are not available to retail
investors in the UK.
Neither the content of Forvia’s website nor any
website accessible by hyperlinks on Forvia’s website is
incorporated in, or forms part of, this announcement. The
distribution of this announcement into any jurisdiction may be
restricted by law. Persons into whose possession this announcement
comes should inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
No money, securities or other consideration is
being solicited, and, if sent in response to the information
contained herein, no money, securities or other consideration will
be accepted.
- 20240507 250M BOND TENDER OFFER ENG
Faurecia (BIT:1EO)
過去 株価チャート
から 8 2024 まで 9 2024
Faurecia (BIT:1EO)
過去 株価チャート
から 9 2023 まで 9 2024