White & Case Advises Faurecia on Inaugural €1.2 Billion Sustainability-Linked Bond Offering to Partly Finance HELLA Acquisition

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Global law firm White & Case LLP has advised Faurecia S.E. (Faurecia), one of the world's largest automotive equipment suppliers, on its inaugural sustainability-linked high yield bond issuance of €1.2 billion 2.750% sustainability-linked senior notes due 2027.

Faurecia will use the net proceeds of the offering to finance part of the contemplated acquisition of HELLA GmbH & Co. KGaA (Hella), or to refinance certain debt.

Faurecia is one of the world's leading automotive technology companies with approximately 114,000 employees working at 266 sites in 35 countries. The combination of Faurecia and HELLA will form the seventh largest automotive technology supplier in the world. The transaction is expected to close early 2022.

Faurecia issued the notes under its Sustainability-Linked Financing Framework established in October 2021. Société Générale, Commerzbank Aktiengesellschaft and Crédit Agricole Corporate and Investment Bank acted as joint bookrunners and joint coordinators, Deutsche Bank Aktiengesellschaft, Intesa Sanpaolo S.p.A., SMBC Nikko Capital Markets Europe GmbH and UniCredit Bank AG acted as joint bookrunners, and Banco de Sabadell S.A., Crédit Industriel et Commercial S.A. and MUFG Securities (Europe) N.V. acted as co-managers.

White & Case previously advised Faurecia on the launch of its tender offer for HELLA.

The White & Case team that advised on the transaction was led by partner Gilles Teerlinck (London), and included partners Severin Robillard and Max Turner (both Paris) and associates Adrien Dumoulin-Smith, Tatiana Uskova, Alice Chavaillard and Agathe Bourdillon (all Paris).

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