Autoliv remarkets $106.27 million senior notes due 2014 at 3.854%

By Jennifer Chiou

New York, March 12 - Autoliv, Inc. said it bought $106,273,000 of its senior unsecured notes due April 30, 2014 at the securities' remarketing. As part of the transaction, the interest rate was reset to 3.854%.

The public offering price was 102.002, and the reoffer yield was 2.875%.

Settlement is scheduled for Thursday.

Morgan Stanley & Co. LLC was remarketing agent.

The notes are associated with the equity units that Autoliv issued on March 30, 2009.

As reported, the remarketing provided an opportunity for debt investors to invest in Autoliv as well as an opportunity for Autoliv to lower its cost of borrowing.

Corporate units, treasury units and related 8% senior notes due 2014 were affected by the remarketing.

Autoliv is an automotive safety systems supplier based in Stockholm.

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