Capital/Financing Update • Apr 26, 2012
Capital/Financing Update
Open in ViewerOpens in native device viewer
Nanterre, April 26, 2012
Faurecia announced today its intention to raise €250 million of new Senior Notes due 2019.
Faurecia will use the net proceeds of the offering of these 2019 Notes primarily to reduce its outstanding debt, including the repayment of part of the revolving indebtedness under its corporate €1,150 million Senior Credit Facility. To preserve liquidity, Faurecia does not intend to reduce the commitments thereunder, and repaid amounts may be redrawn in the future. These 2019 Notes will also enable Faurecia to extend its debt maturity profile and diversify its sources of funding.
Faurecia had successfully issued in November 2011 €350 million of Notes maturing in December 2016, which were listed on November 9, 2011. An additional €140 million principal amount of Notes maturing in December 2016 were issued on February 21, 2012.
Crédit Agricole CIB is acting as Global Coordinator and Joint Bookrunner for this offering. BNP Paribas, HSBC, Mitsubishi UFJ Securities International and Natixis are acting as Joint Bookrunners.
___________________________
Faurecia is the world's sixth-largest automotive equipment supplier with four key Business Groups: Automotive Seating, Emissions Control Technologies, Interior Systems and Automotive Exteriors. In 2011, the Group posted total sales of €16.2 billion. At December 31, 2011, Faurecia employed 84,000 people in 33 countries at 270 sites and 40 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange. For more information, visit: www.faurecia.com
Media Olivier Le Friec Manager Media Relations Tel: +33 (0)1 72 36 72 58 Mob: +33 (0)6 76 87 30 17 [email protected] Analysts/Investors Eric-Alain Michelis Director Investor Relations Tel: +33 (0)1 72 36 75 70 Mob: +33 (0)6 64 64 61 29 [email protected]
This press release does not constitute an offer of securities in the United States or any other country. The Notes may not be offered or sold within the United States unless they have been registered or pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended. Faurecia does not intend to register the offering, in whole or in part, in the United States, or to offer its securities to the public in the United States.
This press release is neither an offer of securities for sale nor the solicitation of an offer to purchase securities in France, in the United States or any other jurisdiction. The securities described herein may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities described herein have not been and will not be registered under Securities Act and Faurecia does not intend to make a public offer of its securities in the United States.
The offer and sale of the Notes in France will be carried out through a private placement to qualified investors, in accordance with article L.411-2 of the French Financial and Monetary Code and other applicable laws and regulations. There will be no public offering in France.
No communication and no information in respect of the offering by Faurecia of notes (the "Notes") may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction where such steps would be required. The offering or subscription of the Notes may be subject to specific legal or regulatory restrictions in certain jurisdictions. Faurecia takes no responsibility for any violation of any such restrictions by any person.
This announcement is not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and the Council of 4 November 2003 as implemented in each member State of the European Economic Area and amendments thereto, including Directive 2010/73/EU to the extent implemented in the relevant member State of the European Economic Area (the "Prospectus Directive").
This announcement does not, and shall not, in any circumstances constitute a public offering nor an invitation to the public in connection with any offer in any jurisdiction.
The offer and sale of the Notes in France will be carried out through a private placement to qualified investors, in accordance with article L.411-2 of the French Financial and Monetary Code and other applicable laws and regulations. There will be no public offering in France.
With respect to the member States of the European Economic Area, other than France, which have implemented the Prospectus Directive, the Notes may only be offered under circumstances not requiring Faurecia to publish a prospectus as provided under article 3(2) of the Prospectus Directive.
This press release does not constitute an offer to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Notes. This press release is not a prospectus which has been approved by the Financial Services Authority or any other United Kingdom regulatory authority for the purposes of Section 85 of the Financial Services and Markets Act 2000. The distribution of this press release is not made, and has not been approved, by an "authorized person" within the meaning of Article 21(1) of the Financial Services and Markets Act 2000. This press release is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant Persons"). The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this press release or any of its contents.
This press release does not constitute an offer of securities in the United States or any other country. The Notes may not be offered or sold within the United States unless they have been registered or pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended. Faurecia does not intend to register the offering, in whole or in part, in the United States, or to offer its securities to the public in the United States.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Notes have not been and will not be registered under the Securities Act, or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), expect pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. The Notes are being offered and sold only outside the United States in "offshore transactions" as defined in and in accordance with Regulation S. Faurecia does not intend to register any portion of the offering in the United States or to conduct an offering of securities in the United States.
In connection with the issue of the Notes, one or more parties named as the stabilizing manager(s) (or persons acting on behalf of any stabilizing manager(s)) may over allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. However, there is no assurance that the stabilizing manager(s) (or persons acting on behalf of any stabilizing manager(s)) will undertake stabilization action. Any stabilization action or over allotment must be conducted by the relevant stabilizing manager(s) (or person(s) acting on behalf of any stabilizing manager(s)) in accordance with all applicable laws and rules.
The distribution of this press release in certain countries may constitute a breach of applicable law. The information contained in this press release does not constitute an offer of securities for sale in the United States, Canada, Australia or Japan.
This press release may not be published, forwarded or distributed in the United States, Canada, Australia or Japan.
This press release does not constitute an offer of securities in the United States or any other country. The Notes may not be offered or sold within the United States unless they have been registered or pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended. Faurecia does not intend to register the offering, in whole or in part, in the United States, or to offer its securities to the public in the United States.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.