Forvia SE FRVIA.PA:
* FORVIA SUCCESSFULLY PLACES 1 BILLION EUROS OF BONDS
* ISSUANCE OF TWO BOND TRANCHES AT 5 AND 7 YEARS
* PROCEEDS FROM THE ISSUE INTENDED TO FINANCE THE PARTIAL REDEMPTION OF BONDS MAURING IN 2025 AND 2026 AS WELL AS OTHER DEBT
* SENIOR BOND ISSUE OF EUR 1.0 MD, INCLUDING EUR 500 MLNS DUE JUNE 2029 AT A RATE OF 5.125% AND EUR 500 MLNS DUE JUNE 2031 AT A RATE OF 5.50%
* THE ECONOMIC YIELD OF THE NEW BONDS FOR FORVIA IS 4.96% FOR THE 2029 BONDS AND 5.37% FOR THE 2031 BONDS (ON A NON-IFRS BASIS)
* BOTH TRANCHES OF THE NEW SENIOR BONDS HAVE OBTAINED A RATING IN ACCORDANCE WITH FORVIA’S LONG-TERM CREDIT RATING
* WILL USE THE PROCEEDS FROM THESE BOND ISSUES TO: FINANCE THE REDEMPTION OF ITS 2025 BONDS BEARING INTEREST AT 2.625%
* WILL USE THE PROCEEDS FROM THESE BOND ISSUES TO: FINANCE THE REDEMPTION OF ITS “SUSTAINABLE” 2026 BONDS BEARING INTEREST AT 7.250%
* WILL USE THE PROCEEDS FROM THESE BOND ISSUES TO: REPAY OTHER DEBT OF THE GROUP AND PAY PREMIUMS AND ACCRUED INTEREST LINKED TO THESE OPERATIONS
*THE FINAL AMOUNT ACCEPTED WILL BE A FUNCTION OF THE FINAL AMOUNT OF OFFERS RECEIVED AND THE RESULTS OF THE BUYBACK OFFERS SHOULD BE PUBLISHED ON MARCH 7
*THESE OPERATIONS ALLOW THE GROUP TO EFFECTIVELY MANAGE ITS DEBT AND EXTEND THE AVERAGE MATURITY OF ITS DEBT
Original text: tinyurl.com/mpep6suh For more details, click on FRVIA.PA
(Gdansk editorial office)