Faurecia announced today that it will make an offering of €500 million of 2022 Notes.
Faurecia will use the net proceeds of the offering of the 2022 Notes primarily to redeem its €250 million 8.75% Notes due June 2019 in full and to refinance short-term borrowings. The issuance of the 2022 Notes is part of an overall refinancing intended to extend Faurecia’s debt maturity profile and strengthen Faurecia’s balance sheet.
In connection with the offering of the 2022 Notes, Faurecia disclosed certain information to prospective holders of the 2022 Notes. A copy of such information is available on the link hereto (Exhibit A).
Faurecia is one of the world's largest automotive equipment suppliers with four Business Groups: 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 99,500 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.fr
Executive Vice-President, Finance
Michel Favre graduated from HEC business school in 1982 began his career as bank auditor and consultant. He worked with Valeo during 13 years before joining Altadis Group in July 2001, where[...]