on FAURECIA (EPA:EO)
FORVIA Raises €750 Million in 5-Year Senior Notes to Refinance
On March 20, 2025, FORVIA announced the successful pricing of €750 million in 5.625% senior notes due 2030. These notes, part of its strategy to manage liabilities actively, will fully refinance 3.125% notes due 2026. The new notes' interest rate, adjusted for pre-hedging, stands at 5.47%.
The offering witnessed notable demand, initially set at €500 million and oversubscribed, prompting an increase to €750 million. This response highlights investors' confidence in FORVIA's deleveraging plan.
These senior notes received credit ratings of “BB+” from Fitch, “B1” from Moody’s, and “BB-” from Standard & Poor’s. Listing on Euronext Dublin’s Global Exchange Market is planned, with settlement expected on March 24, 2025, and 2026 notes redemption on March 28, 2025.
R. P.
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