@Groupe PSA: PR Faurecia successfully prices €1,200 million of senior sustainability-linked notes due 2027 (the “sustainability-linked notes”)002793

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Faurecia will use the net proceeds of the offering of the Sustainability-Linked Notes to pre-finance part of the cash portion of the purchase price for the contemplated acquisition of Hella[1]. On August 14, 2021, Faurecia announced its intention to combine Faurecia and Hella in order to create a global leader in fast-growing automotive technologies, fully aligned with industry megatrends. This will lead to the creation of the #7 global automotive supplier, with a highly advanced technology portfolio and a strong value creation for all its shareholders.
The launch of this inaugural Sustainability-Linked Notes issue is fully in line with Faurecia’s commitment to a sustainable future, and in particular with the Group’s ambition to be CO2 neutral on its scopes 1 and 2 by 2025. The Sustainability Performance Target in the Sustainability-Linked Notes is linked to our objective to be CO2 neutral on our Scopes 1 and 2 by 2025 from a 2019 base year.
The Sustainability-Linked Financing Framework has been reviewed by ISS ESG, the Second Party Opinion provider, which assessed the contribution of the Faurecia’s Sustainability-Linked Notes to the Sustainable Development Goals defined by the United Nations (UN SDGs) as having a “Significant Contribution” to “Affordable and Clean Energy” and “Climate action” goals.
An application has been made to list the Sustainability-Linked Notes on the green segment of Euronext Dublin (Global Exchange Market). The settlement of the Sustainability-Linked Notes is expected to occur on 10 November 2021.

 

[1] In case Hella acquisition is not consummated, the net proceeds of the offering of the Sustainability-Linked Notes will be used to refinance, in whole or in part, one or more series of the existing notes or other long-term debt of Faurecia, including any related premiums, fees, costs and expenses.

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