(AOF) – Forvia has finalized the previously announced senior bond issue for an amount of one billion euros, including 500 million euros maturing in June 2029 at a rate of 5.125% and 500 million euros maturing in June 2031 at the rate of 5.50%. The automotive supplier specifies that it intends to allocate the net balance of the proceeds of the issue to the repayment of other debts of the group. The new bonds are listed on the Euronext Dublin market (Global Exchange Market). Both tranches of the new senior bonds have been rated in line with its long-term credit rating.
Forvia states that the proceeds of the issuance were mainly used to partially refinance approximately €580 million of bonds maturing in 2025 and approximately €220 million of bonds maturing in 2026 contributed as part of a buyout offer.
These operations allow the group to “effectively manage its debt and extend the average maturity of its debt”.
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