Faurecia Sistemas Automotrices de México, S.A. de C.V. Obtains $210 Million in Senior Unsecured Loan

New York – Paul Hastings, a leading global law firm, announced today that the firm represented Mexican company FAURECIA SISTEMAS AUTOMOTRICES DE MÉXICO, S.A. DE C.V. (“Faurecia”), as borrower, and French company FAURECIA S.E., as parent guarantor, in a $210 million senior unsecured loan from a consortium of banks, structured in two tranches in U.S. Dollars and Mexican Pesos.

The term loan facility, which comprised a tranche denominated in Dollars in an aggregate principal amount of up to U.S.$110,000,000 and a tranche denominated in Pesos in an aggregate principal amount of up to Ps.2,000,000,000, was the borrower’s first international financing. The proceeds of the loan were used in part to repay amounts outstanding under existing intercompany debt.  Under the terms of the loan, the borrower will also have the ability to incur additional incremental loans in an amount of up to U.S.$90,000,000. The loan was guaranteed by Faurecia, S.E., the parent company of Faurecia. The loan was lead-managed by Citibank, N.A. and BBVA Mexico, with approximately five other banks in the syndicate.

The borrower, a subsidiary of the FORVIA Group, is a leading automotive technology company. Faurecia's mission is to develop technologies for safe, sustainable, advanced, and customized mobility. One in three automobiles is equipped by Faurecia. Faurecia designs and manufactures seats, exhaust systems, interior systems (including dashboards, center consoles, door panels, acoustic modules) and decorative aspects of a vehicle, such as aluminum and wood.

Latin America practice partners Mike Fitzgerald and Arturo Carrillo led the Paul Hastings team, which also included of counsel Pedro Reyes, associate Alejandra Cuadra, and foreign associate Juan Pablo Rodriguez Sada.

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