Global law firm White & Case LLP has advised joint bookrunning managers BNP Paribas, Crédit Agricole CIB, Natixis and Société Générale Corporate & Investment Banking in connection with French issuer Faurecia's debut high yield bond offering of €350 million 9.375% Senior Notes due 2016. HSBC and Mitsubishi UFJ Securities acted as co-managers on the transaction.
Faurecia is one of the world's largest automotive equipment suppliers, which develops, manufactures and sells original interior and exterior equipment and emissions control technologies to major auto manufacturers globally.
"The year started well, but volatility starting last summer effectively closed the market for high yield deals in early fall," said White & Case partner Colin Chang. "Getting a deal of this size done, given the market conditions, was an achievement."
Despite the challenging market conditions throughout the year, White & Case has acted on a number of successful and high profile European high yield bond transactions in 2011 including Aston Martin, Xella, Barry Callebaut, Refresco and WIND.
The White & Case Faurecia deal team was led by London partner Colin Chang along with counsel Anne Marie Salan and associate Annie Serafim, assisted by other offices throughout the White & Case global network, including partner Raphael Richard and associates Samir Berlat, Adrien Moretti, Guillaume Vallat and Christel Alberti in Paris, partner Stuart Matty and associate Michael Bark-Jones in London, partners Marcin Studniarek and Tomasz Ostrowski and associate Bartosz Smardzewski in Warsaw, partner Leila Roeder and associate Daniel Mueller in Munich and partner Vicente Corta and associate Eduardo Flores-Herrera in Mexico City.
For more information please speak to your local media contact.