Dentons has advised longstanding client Faurecia, one of the world's largest automotive equipment suppliers, on a significant new refinancing transaction.

The transaction involved the issue by Faurecia of €700 million of new 2025 Notes and the repurchase and redemption of €700 million of existing 2022 Notes previously issued by the company. The 2022 Notes were repurchased through a combination of an intermediated cash tender offer by Société Générale and the exercise by Faurecia of a "make-whole" call option for any remaining 2022 Notes that were not submitted in the tender offer.

The Joint Global Coordinators were BNP Paribas, Natixis and Société Générale who led a syndicate of six other banks. Dentons fielded capital markets teams in London and Paris to deliver the deal to very tight deadlines, led by Capital Markets partner David Cohen in London and Finance partner Philippe Max in Paris.

Faurecia has grown significantly in recent years as a result of the global trends impacting the automotive sector, including CO2 and emissions regulation and increasing electrification and autonomy of vehicles.

Commenting on the deal, Philippe Max said, "This was an extremely high profile and successful transaction for Faurecia, a significant client for our Firm."

David Cohen added, "We were able to demonstrate the strength of our international Capital Markets team by fielding dedicated teams in London and Paris and execute a complex refinancing deal with a very aggressive deadline."

Alongside David Cohen and Philippe Max, the team advising on the deal included associate Nicholas Yao and trainee Sanam Shah in London and associate Clement Gerthoffert in Paris.