Auto Supplier Facing Trump Tariffs Sweetens Junk Bond Offer
Forvia makes products for cars such as lights and seats.
Source: Forvia SEThis article is for subscribers only.
French auto supplier Forvia SE hiked the yield on its debut US dollar junk bond offering following US President Donald Trump’s decision to slap tariffs on auto imports to the country.
The company priced the debt with a final yield and coupon of 8%, the upper end of a range it revised from its initial offer of about 7.75%, according to a person familiar with the matter. Citigroup led the deal.