Sensata announces €141 million 11¼% subordinated notes due 2016 to refinance bridge loan

By Paul A. Harris

St. Louis, June 6 - Sensata Technologies BV announced in a Friday press release that it plans to issue €141 million of 11¼% senior subordinated notes due May 1, 2016 via Rule 144A with no registration rights.

Morgan Stanley and Goldman Sachs are involved in the bridge financing.

Proceeds, along with cash, will be used to refinance the bridge loan incurred in the company's acquisition of Airpax Holdings, Inc. in July 2007.

On April 27, 2006, Sensata Technologies, a company owned by an affiliate of Bain Capital Partners, LLC, completed the acquisition of the sensors & controls business of Texas Instruments Inc.

Sensata is a designer and manufacturer of sensors and controls, with business and product development centers in the United States, the United Kingdom, the Netherlands and Japan, and manufacturing operations in Brazil, China, Korea, Malaysia, Mexico and the Dominican Republic.

The company is based in Attleboro, Mass.

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