Faurecia’s €1.2 Billion Sustainability-Linked Bond Offering

In UK White & Case, advised on the matter.

White & Case advised Faurecia SA with a team including Gilles Teerlinck (Picture – Debt Capital Markets).

Faurecia S.E. (Faurecia), one of the world’s largest automotive equipment suppliers, executed its inaugural sustainability-linked high yield bond issuance of €1.2 billion 2.750% sustainability-linked senior notes due 2027.

Faurecia will use the net proceeds of the offering to finance part of the contemplated acquisition of HELLA GmbH & Co. KGaA (Hella), or to refinance certain debt.

Faurecia issued the notes under its Sustainability-Linked Financing Framework established in October 2021. Société Générale, Commerzbank Aktiengesellschaft and Crédit Agricole Corporate and Investment Bank acted as joint bookrunners and joint coordinators, Deutsche Bank Aktiengesellschaft, Intesa Sanpaolo S.p.A., SMBC Nikko Capital Markets Europe GmbH and UniCredit Bank AG acted as joint bookrunners, and Banco de Sabadell S.A., Crédit Industriel et Commercial S.A. and MUFG Securities (Europe) N.V. acted as co-managers.

Faurecia is one of the world’s leading automotive technology companies with approximately 114,000 employees working at 266 sites in 35 countries. The combination of Faurecia and HELLA will form the seventh largest automotive technology supplier in the world. The transaction is expected to close early 2022.

The White & Case team that advised on the transaction was led by partner Gilles Teerlinck (Picture; London), and included partners Severin Robillard and Max Turner (both Paris) and associates Adrien Dumoulin-Smith, Tatiana Uskova, Alice Chavaillard and Agathe Bourdillon (all Paris).

Involved fees earner: Agathe Bourdillon – White & Case; Alice Chavaillard – White & Case; Adrien Dumoulin-Smith – White & Case; Séverin Robillard – White & Case; Gilles Teerlinck – White & Case; Max Turner – White & Case; Tatiana Uskova – White & Case;

Law Firms: White & Case;

Clients: Faurecia SA;

Author: Giulia Di Palma