FORVIA Prices €250 Million in Senior Notes Due 2030

FORVIA, the automotive technology firm, has successfully priced an additional €250 million in senior notes set to mature in 2030. The notes, which were priced at par with a yield of 5.625%, received a strong demand, evidenced by an oversubscribed book. Credit ratings for these offerings stand at "BB+" from Fitch Ratings, "B1" from Moody's, and "BB-" from Standard & Poor’s.

The proceeds from this offering will facilitate the repurchase of FORVIA's 2.750% sustainability-linked notes due in February 2027. This will occur through a cash tender offer, set to align with the new notes' principal amount. The tender offer launched concurrently and depends on certain conditions involving the new notes' offering.

FORVIA is also seeking to list these new notes on the Global Exchange Market of Euronext Dublin, with settlement expected by June 12, 2025.