Salans has advised French car parts supplier Faurecia on a market-defying syndicated loan valued
at EUR 1.17 billion.
The loan forms part of a EUR 1.42 billion financing successfully undertaken by Faurecia, with a
EUR 250 million loan coming from PSA Peugeot Citroen, its majority shareholder. BNP Paribas,
Calyon, Natixis and Societe Generale, Bank of Tokyo-Mitsubishi UFJ, Citigroup, Credit Mutuel-CIC
and HSBC are mandated lead arrangers (MLA) on the deal.
The deal refinances a five-year revolver facility which was to expire in November 2009.
Head of Banking & Finance in Paris and the Co-Head of the Global Banking and Finance Group,
Philippe Max, commented: "The fact that this is one of the few syndications to take place in
challenging market conditions, is testament to the strength we have in the sector and reaffirms our
stance amongst companies as one of the few international law firms who can both navigate clients
through the effects of the global downturn as well as seize opportunities which are still in the
market."
Salans' Relationship Partner for Faurecia, Guillaume Forbin, added, "The difficulties in the
market mean that companies need to work with trusted advisers who know the market not just from a
technical viewpoint but who also have the experience, network and commercial knowledge to make
things happen. We are pleased to have assisted Faurecia once again with this latest
transaction."
Salans has over 750 lawyers, of which 183 are partners, globally operating from 20 offices
across 17 jurisdictions. The Global Banking and Finance
Group has over 150 lawyers worldwide and its capabilities include project finance, banking
(including corporate finance, acquisition finance, leveraged finance and real estate finance),
capital markets, asset finance, consumer finance, derivatives, regulatory, securities, structured
finance as well as securitisation.