Faurecia’s €400 Million Green Bonds Offering

Dentons advised Faurecia, while White & Case LLP advised the banks on the deal.

Faurecia executed the inaugural issue of green bonds – an issue of €400 million 2.37% Senior Notes due 2029.  The proceeds of the issue will finance or refinance green projects permitted under Faurecia’s Green Bond Framework, including the development and production of hydrogen fuel cell systems and hydrogen storage systems. A key element of Faurecia’s strategy is to become a world leader in hydrogen mobility.

Faurecia is one of the world’s 10 largest automotive equipment suppliers by revenue, with more than 100,000 employees and operations across Europe, Asia and North America. It is estimated that at least one third of vehicles in service in the world were originally equipped with at least one product manufactured by the company.

Dentons teams in London and Paris advising Faurecia were led by Capital Markets partner David Cohen (Picture), associate Niharika Khimji, and trainees Anna Clark and Ed Varney in London, and Finance partner Philippe Max, counsel Charles Tissier and associate Steeve Jaskierowicz in Paris.

White & Case LLP advised Crédit Agricole CIB, MUFG and Santander, as joint global coordinators and joint bookrunners, Citigroup, J.P. Morgan and Helaba, as joint bookrunners, and Bankinter and Raiffeisen Bank International, as co-managers, with a team led by partner Gilles Teerlinck (London) and included associate Tatiana Uskova (Paris).

Involved fees earner: David Cohen – Dentons; Steeve Jaskierowicz – Dentons; Niharika Khimji – Dentons; Philippe Max – Dentons; Charles Tissier – Dentons; Gilles Teerlinck – White & Case; Tatiana Uskova – White & Case;

Law Firms: Dentons; White & Case;

Clients: Bankinter (Banco Intercontinental Español); Citigroup Inc.; Credit Agricole; Faurecia SA; Helaba; J.P. Morgan Securities LLC; MUFG; Raiffeisen Bank International AG ; Santander;

Author: Federica Tiefenthaler