Sensata to price $150 million tap of 4% notes due 2029 on Wednesday; initial talk 100-100.5

By Paul A. Harris

Portland, Ore., March 31 – Sensata Technologies BV plans to price a $150 million add-on to its 4% senior notes to April 15, 2029 (existing ratings Ba3/BB+) in a Wednesday drive-by, according to market sources.

Initial price talk is 100 to 100.5, a trader said.

Goldman Sachs is the bookrunner.

The Rule 144A and Regulation S for life notes become callable after April 15, 2024 at 102.

The Swindon, U.K.-based supplier of sensors and related products plans to use the proceeds for general corporate purposes, which may include working capital, capital expenditures, acquisitions, strategic investments, debt repayment or share repurchases.

The original $750 million issue priced on March 15, 2021.

The add-on notes are set to become fungible with the original notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.