FAURECIA: THE EARLY REDEMPTION OF THE 2018 OCEANE BONDS WILL RESULT IN A SIGNIFICANT REDUCTION OF ITS NET DEBT

Nanterre, France, Dec 7, 2015,  by Faurecia

Faurecia launched today the early redemption of the 2018 bonds convertible into and/or exchangeable for new or existing shares (OCEANE) issued in September 2012. 

This early redemption will be effective on January 16, 2016. Thanks to the evolution of the Faurecia share price, which price is significantly higher than the bond redemption price, this early redemption should lead to the conversion into shares of most of the bonds issued. At the end of November 2015, 4.35 million bonds (out of a total of 12.83 million issued) have already been converted into shares, signaling investor confidence.

 

This early redemption should enable Faurecia to again reduce, and significantly, its debt by an amount of around 250 million euros. Combined with other debt management operations already carried out by the Group in 2015, it will help to accelerate the reduction of the financial expenses of Faurecia. The Group confirms that this reduction is expected to reach nearly 50 million euros in 2015 and that a further reduction of 50 million euros is expected in 2016.

 

The technical details of the early redemption of the OCEANE 2012/2018 are included in a press release issued this morning and available on the group's website at: www.faurecia.com.

Faurecia is one of the world's largest automotive equipment suppliers in four activities: Automotive Seating, Emissions Control Technologies, Interior Systems and Automotive Exteriors. In 2014, the Group posted total sales of €18.8 billion. At December 31, 2014, Faurecia employed 100,000 people in 34 countries at 330 sites and 30 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange and trades in the U.S. over-the-counter (OTC) market. For more information, visit: www.faurecia.com

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