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Garrett Motion announces €450 million senior notes backing spinoff from Honeywell
By Paul A. Harris
Portland, Ore., Sept. 14 – Garrett Motion Inc. announced in a Friday press release that it plans to sell €450 million senior notes due 2026 (B2/B) via Rule 144A and Regulation S.
Proceeds will be used to help fund the spinoff of the company from Honeywell International Inc.
Financing for the spinoff also includes $1.65 billion credit facilities via JPMorgan, which launched Sept. 3 in London and Sept. 5 in New York.
Garrett Motion is a Switzerland-based manufacturer of turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket.
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