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Forvia accepts 800 million from tender offers for 2025, 2026 notes
Chicago, March 11 Forvia SE announced that the company accepted 800 million of notes from the cash tender offers for the companys 1 billion of 2 5/8% senior notes due 2025 (ISIN: XS1785467751) and its 950 million of 7Ό% sustainability-linked senior notes due 2026 (ISIN: XS2553825949), according to multiple releases.
Of the 1 billion of outstanding 2 5/8% notes, the issuer accepted all 580,254,000 of the tendered notes. There is 419,746,000 of the issue outstanding after settlement.
From the 799,921,000 of outstanding 7Ό% sustainability-linked notes, Forvia accepted 219,746,000 of the 542,065,000 tendered notes by applying a proration factor of 38.3624%. This leaves 580,175,000 of the notes outstanding.
Settlement was scheduled for March 11. The notes have been canceled.
The company was offering to purchase the 2025 notes at 99 and the 2026 notes at 105.75, plus accrued interest.
The tender offers expired at 11 a.m. ET on March 6.
The structuring agents and dealer managers are BofA Securities Europe SA (+33 1 87 70 10 57; DG.LM-EMEA@bofa.com) and Banco Santander, SA (Liability.management@gruposantander.com).
Credit Agricole CIB (+44 20 7214 5903; liability.management@ca-cib.com) and MUFG Securities (Europe) NV (liability.management@mufgsecurities.com) are also dealer managers.
The information and tender agent is D.F. King Ltd. (+44 20 7920 9700; Forvia@dfkingltd.com; https://www.dfkingltd.com/Forvia).
White & Case LLP is legal adviser to the company, and Latham & Watkins AARPI is legal adviser to the dealer managers.
Formerly Faurecia SE, Forvia is a Nanterre, France-based automotive technology supplier.
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