Faurecia in €140 Million Tap Issue of High Yield Notes

February 21, 2012

Cleary Gottlieb was counsel to Faurecia in a Regulation S tap issue of €140 million of 9.375% senior notes due 2016. The notes are listed on the Euro MTF market of the Luxembourg Stock Exchange. Cleary Gottlieb represented Faurecia in its original offering in November 2011 of €350 million of 9.375% senior notes due 2016. The Joint Lead Managers for the tap offering were Credit Agricole Corporate and Investment Bank and Natixis. The offering of the notes priced on February 14 and closed on February 21.

Faurecia is a leading automotive equipment supplier that furnishes auto seats, interiors and other automobile components to the world’s major automobile companies, including GM, Ford, Peugeot, VW and others. Its 2010 total sales were €13.8 billion. Faurecia’s principal shareholder is Peugeot, which owns approximately 57.4% of its capital. Twenty-nine of Faurecia’s subsidiaries located in 8 countries provided guarantees for the notes.