Forvia : Focus Emission
Forvia is returning to the bond market with € 500m of new bonds maturing in 2030 (5NC2). The proceeds will be used to refinance part of the existing 3.125% € 750m bonds maturing in June 2026 at par, or even all of them if the offer is upsized. The transaction is neutral in terms of leverage (2.0x at the end of December 2024) but should cause a slight increase in interest charges (+€ 10m on an annual basis of € 564m in 2024).Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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