Sensata Technologies to repay revolver borrowings with notes proceeds

By Sara Rosenberg

New York, Aug. 3 – Sensata Technologies Inc. plans to repay outstanding borrowings under its revolving credit facility using proceeds from a $750 million senior notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes, which may include redeeming, along with cash on hand, all or a portion of the company’s 6¼% senior notes due 2026 upon becoming callable in February 2021.

Sensata is a producer of sensors and controls for manufacturers in the automotive, appliance, aircraft, industrial and HVAC markets.

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