Forvia successfully places €1.0 billion in bonds – 03/07/2024 at 1:46 p.m.


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)



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