The New Notes obtained a credit rating in line with the long-term credit rating of FORVIA (i.e. “BB+” by Fitch Ratings, “Ba2” by Moody’s and “BB” by Standard & Poor’s).

FORVIA intends to use the proceeds of the offering of the New Notes to fund the repurchase in part of FORVIA’s 7.250% sustainability-linked notes due 2026 (the “Existing Notes”) in a cash tender offer (the “Tender Offer”), to pay certain fees, expenses, premiums and accrued interest and, if, in FORVIA’s discretion, substantial proceeds remain, FORVIA intends to use such remaining proceeds to partially redeem the Existing Notes (the “Redemption”).

The Tender Offer on the Existing Notes launched on 24 April 2024 remains subject to conditions, such as the completion of the offering of the New Notes. FORVIA plans to repurchase io the Existing Notes in an amount up to the principal amount of the New Notes. The final amount of Existing Notes accepted in the Tender Offer will be subject to the final amounts of tenders received. The results of the tender offer are expected to be published on 2 May 2024.

These transactions allow the Group to actively manage its maturities and extend its debt average maturity.

An application has been made to list the New Notes on the Global Exchange Market of Euronext Dublin. The settlements of the New Notes and the Tender Offer on existing notes are expected to occur on 7 May 2024. The Redemption, if any, is expected to settle on 13 May 2024.