New Issue: Sensata prices upsized $700 million 6½% eight-year notes at par

By Paul A. Harris

Portland, Ore., May 6 - Sensata Technologies BV priced an upsized $700 million issue of eight-year senior notes (B3/B/) at par to yield 6½% on Friday, according to an informed source.

The yield printed at the tight end of the 6½% to 6¾% price talk.

Barclays Capital Inc., Morgan Stanley & Co. Inc., Goldman Sachs & Co., BMO Nesbitt Burns and RBC Capital Markets were the underwriters for the quick-to-market issue, which was upsized from $600 million.

The Attleboro, Mass.-based designer and manufacturer of sensors and controls plans to use the proceeds to refinance its bonds and senior secured term loans.

Issuer:	Sensata Technologies BV
Amount:	$700 million, increased from $600 million
Maturity:	May 15, 2019
Securities:	Senior notes
Bookrunners:	Barclays Capital Inc., Morgan Stanley & Co. Inc., Goldman Sachs & Co., BMO Nesbitt Burns, RBC Capital Markets
Coupon:	6½%
Price:	Par
Yield:	6½%
Spread:	374 bps
Call protection:	Four years
Trade date:	May 6
Settlement date:	May 12
Ratings:	Moody's: B3
	Standard & Poor's: B
Distribution:	Rule 144A and Regulation S for life
Price talk:	6½% to 6¾%
Marketing:	Quick to market

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