Faurecia enlivens HY market with €250m sub note launch
Faurecia, the French car parts maker, launched a €250m high yield bond on Thursday, which it hopes to price on Friday. Unlike Faurecia’s last issue in February, this will be a structurally subordinated holding company bond.
The Ba3 rated company launched the B2 rated deal at global coordinator Crédit Agricoles high yield conference, which was taking place on Thursday. BNP Paribas, HSBC, Mitsubishi UFJ Securities and Natixis are also bookrunners on the non-call three 2019 senior deal.
Management met investors in one-on-ones and held
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