Forvia Proceeds with Partial Redemption of its 2028 Bonds
Automotive supplier Forvia has announced the early repurchase of 200 million euros of its bonds maturing in 2028, according to a press release issued this Friday. This transaction involves a portion of the bond issue that was originally for a total amount of 700 million euros.
Details of the Early Redemption
Forvia is exercising its option for early redemption on 200 million euros of its 3.750% bonds maturing in 2028, the group states. The redemption price is set at 100% of the nominal amount, plus accrued and unpaid interest as of the redemption date. This operation is in accordance with condition 3.3 of the 2028 bonds, which allows for optional redemption since June 15, 2023. The ISIN of these bonds is XS2209344543. Following this partial redemption, the remaining amount of this bond issue will be 500 million euros.
Repayment Date and Eligibility
The repayment of the 200 million euros will occur on December 24, 2025, Forvia's press release specifies. The record date, which determines the bondholders eligible for repayment, has been set for December 23, 2025. The automotive supplier, a global leader in the sector, currently has several bond lines on the financial markets.
Impact of the Partial Redemption
The bonds involved in this partial redemption were issued for a total amount of 700 million euros with a coupon of 3.750% and an initial maturity in 2028. These securities, identified by the common code 220934454, are listed on the Dublin Stock Exchange. The early repayment allows the company to reduce its future interest burden and optimize its debt structure. According to the press release, the bondholders concerned have been notified of this early redemption decision in accordance with the contractual terms of the issue.
