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Forvia gives results of tender offer for sustainability notes due 2026 up to €150 million
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – Forvia SE, formerly Faurecia SE, said it received tenders of €301,528,000 notes under its tender offer to purchase for cash its outstanding €950 million 7¼% sustainability-linked senior notes due June 15, 2026 (ISIN: XS2553825949), subject to a maximum cash consideration of €150 million, according to a notice.
As announced on Dec. 1, Forvia was offering to purchase an amount of notes so that the aggregate cash consideration, excluding interest, does not exceed €150 million. The company said Friday that it accepted tenders of €150,079,000 principal amount of notes at a proration factor of 48%.
The company was offering to purchase the notes at 105.5.
The company will also pay accrued interest to but excluding the settlement date.
The offer expired at 11 a.m. ET on Dec. 7.
Settlement is slated for Dec. 14, after which €799,921,000 of the notes will remain outstanding.
The lead dealer manager is BofA Securities Europe SA (+33 1 87 70 10 57; DG.LM-EMEA@bofa.com). Intesa Sanpaolo SpA (+39 02 7261 6502; IMI- liability.management@intesasanpaolo.com) and Mizuho Securities Europe GmbH (+44 20 7090 6134; liabilitymanagement@uk.mizuho-sc.com) are also dealer managers.
The information and tender agent is D.F. King Ltd. (+44 20 7920 9700; Forvia@dfkingltd.com; https://www.dfkingltd.com/Forvia).
Forvia is an automotive supplier based in Nanterre, France.
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