On Friday evening, automotive equipment manufacturer Forvia announced its intention to exercise its option to repurchase part of its 3.75% bonds maturing in 2028, for a principal amount of €200 million out of a total of €700 million.
These redemptions will be made at a price equal to 100% of the principal amount, plus accrued and unpaid interest at the redemption date. The redemption date will be December 24 and the record date will be December 23.
FORVIA SE is one of the world leaders in designing, manufacturing, and marketing automotive equipment. Net sales break down by product family as follows:
- seats (32%; No. 1 worldwide);
- interior car parts (18.9%; 1 worldwide): dashboards and instrument panels (No. 1 worldwide), doors and door panels, and acoustic modules;
- audiovisual and multimedia equipment (15.5%): car radios, multimedia devices, navigation systems, automatic guiding systems, location systems, safety assistance systems with CDD captor cameras, wireless communication, monitors, etc.;
- exhaust systems (15.4%; No. 1 worldwide);
- lighting equipment (14.4%);
- other (3.8%).
At the end of 2024, the group had more than 290 production sites worldwide.
Net sales are distributed geographically as follows: France (5.8%), Germany (10.3%), Europe-Middle East-Africa (30.7%), Asia (26.7%) and America (26.5%).
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