Faurecia announces the successful completion of a private placement of additional sustainability bonds, maturing in 2026 and with a 7.25% coupon, for an amount of 250 million euros. The bonds were placed at 101.75% of par, representing a yield of 6.65%.

The net proceeds of the issue will be used by the automotive supplier to repay in full the bridge-to-bond and bridge-to-equity facilities related to the acquisition of Hella and to meet its financing needs.

The additional bonds have been applied for admission to listing on the Euronext Dublin (Global Exchange Market). Their issue and settlement date is scheduled for February 1.

Copyright (c) 2023 CercleFinance.com. All rights reserved.