(CercleFinance.com) – Forvia announces that it has finalized a bond issue for a principal amount of 200 million euros of additional senior bonds at a rate of 5.500% and maturing in 2031, which will form a single series with those issued on 11 last March.
The proceeds of this issue were intended for the repurchase of 250 million euros of bonds linked to sustainable development at a rate of 7.250% maturing in 2026 as part of a repurchase offer, thus reducing the gross debt of the equipment manufacturer automobile.
This offer thus once again reduces the outstanding amount of existing bonds, which currently amounts to 330.2 million euros. These operations allow Forvia to proactively manage its debt and extend the average maturity of its debt.