View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 28, 2021

Faurecia strengthens liquidity with private placement

Faurecia has successfully placed an additional issue of bonds due 2027, through a private placement for an amount of US$230m (yield at issue of 2.25%) as announced on 20 January, 2021.

By Rhodri Morgan

Faurecia has successfully placed an additional issue of bonds, due 2027, through a private placement for an amount of US$230m (yield at issue of 2.25%) as announced on 20 January, 2021.

The transaction is part of the Group’s financial strategy, which aims to strengthen liquidity, permanently optimise the profile of long-term debt by maintaining an average maturity of more than five years and by limiting its cost, which is currently around 2.8%.

As of 31 December, 2020, the Group had liquidity of more than EUR3bn, on top of a fully available syndicated line of credit of EUR1.2bn, due in June, 2024.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto